Claims ministers backed Co-op merger spree November 6, 2013 THE CO-OPERATIVE bank’s ill-fated expansion plan was quietly endorsed by senior ministers, the bank’s ex-chairman claimed yesterday. Reverend Paul Flowers, chair of Co-op Bank from 2009 until this summer, said Ed Balls, Mark Hoban and Vince Cable had all given “considerable nods and winks” about moves to takeover rival lenders during its four year acquisition [...]
City Moves for 28 October 2013 | Who’s switching jobs October 27, 2013 Barclays The bank has announced the hire of Geoff Parry as UK head of global corporates in its trade finance team. He joins from National Australia Bank, where he was head of trade finance for south east Asia. Prior to that, he held senior roles at Standard Chartered and NatWest. PwC The professional services firm [...]
City Index hires chairman as it rejigs managers October 14, 2013 CITY Index, the spread betting group two-thirds owned by Michael Spencer of Icap, is bringing in an executive chairman to try to improve its performance and to focus more on international expansion. The group is hiring Mark Preston, a banking industry specialist, who quit Lloyds Bank before its ill-fated merger with HBoS. Preston will work [...]
Santander joins mortgage plan as prices rocket October 10, 2013 SANTANDER became the sixth bank to join the Help to Buy scheme, yesterday promising to offer mortgages with a government guarantee in the New Year. But the announcement came as new data revealed the housing market is already growing strongly, adding to fears that the guarantee scheme could promote a bubble in some areas. House [...]
Lenders fear bubble if UK does not get more houses October 8, 2013 MORTGAGE lenders yesterday warned house building levels are still dangerously low, as the government’s new Help to Buy scheme launched with the backing of five banks, including HSBC. The scheme gives a government guarantee to buyers with a small deposit saved up, making banks more willing to lend and increasing the range of mortgages on [...]
Q and A: How can I get a loan with Help to Buy? October 8, 2013 Q Am I eligible for a loan with this guarantee? A The loans are available to buy a house for less than £600,000 that you will live in. It only applies to capital repayment loans, and is only for buyers with a deposit of between five and 20 per cent of the price. Q How [...]
Brand Index: Help to Buy comes as Brits cheer up about the economy October 8, 2013 THIS week, banks including RBS, NatWest and Halifax will begin taking applications for 95 per cent mortgages under phase two of the government’s controversial Help to Buy scheme. The initiative is intended to help buyers who cannot afford a hefty deposit onto the property ladder, but critics say it could lead to another housing bubble. [...]
RBS’s mad rise and catastrophic fall can’t all be blamed on Fred Goodwin September 23, 2013 IN THE boom years at the start of the twenty-first century, the Royal Bank of Scotland management came up with a marketing slogan. They would – it promised customers and rivals – “Make It Happen”. In giant type, the words were emblazoned on airport billboards and printed on tons of promotional material. A four minute [...]
Mortgage rates could be on the rise September 17, 2013 With rising costs and house price highs spooking homebuyers, shop around for a good deal NEWS that house prices in England have hit record highs – now 0.9 per cent higher than their previous peak in January 2008 – has heightened fears that the government’s Help to Buy subsidised mortgage scheme is fuelling a housing [...]
City Moves for 05 September 2013 | Who’s switching jobs September 4, 2013 PwC The professional services firm has announced the appointment of Lindsay J’afari-Pak as a partner to lead its tax services to the life insurance industry. J’afari-Pak was most recently at Friends Life Group, where she was group tax director. UBS Global Asset Management Nick Rider has joined the asset management business as institutional sales director. Rider [...]