Government eyes bank surcharge U-turn despite Lloyds profits tumbling October 27, 2022 Britain’s biggest mortgage lender, Lloyds Bank, has set aside hundreds of millions of pounds in preparation for a surge in loan defaults caused by the rising cost of living and higher interest rates squeezing household budgets. The lender today said it had banked £668m over the three months to September to absorb souring loans, primarily [...]
Legal and General mulls multi-million pound sale of housing arm Cala March 18, 2024 Legal and General is drawing up plans to sell Cala Group, one of the UK’s biggest house building groups, which it has owned for the past six years.
House prices reach highest level in 10 months in March March 18, 2024 Green shoots continue to emerge in the property market as March welcomes the highest rise in house prices in 10 months.
Nationwide posts strongest results on record on the back of Britain’s booming property market May 20, 2022 The world’s biggest building society, Nationwide, today posted its strongest financial results on record on the back of Britain’s booming property market. The mortgage lender said its underlying profits had more than doubled from £790m for the financial year 2021 to £1,604bn for the financial year 2022. Nationwide said it had performed well across its [...]
Travis Perkins profits slip 31 per cent amid slow down in house building August 1, 2023 Travis Perkins blamed a weak market for its falling revenues as the home improvement retailer struggles to cope with dwindling sales and a tough economic climate. In its half year results, the tools supplier said revenue slipped 2.5 per cent to £2.5bn and adjusted operating profits fell 31 per cent to £112m. A slowdown in [...]
FCA spends more than £250,000 on ‘debanking’ inquiry amid Natwest scandal November 2, 2023 The FCA has spent £250,000 on its “debanking” inquiry, as Natwest faces criticism over the closure of Nigel Farage’s Coutts account.
Big Four banks bag extra £6.5bn from past interest rate hikes amid profiteering concerns November 2, 2023 The UK’s four biggest banks have collectively made an extra £6.5bn this year off the back of past interest rate hikes, says new analysis.
HSBC leads banks’ plans to hike savings rates – and analysts say they could go up even further June 2, 2023 HSBC UK is boosting the interest rates on some savings accounts with increases of up to 0.75 percentage points, the bank has announced. The increases will come into effect next week, on Thursday June 8. They include a 0.75 percentage point increase on the bank’s mysavings and premier savings youth accounts, taking rates to 5.00 [...]
FTSE finance chiefs: Rates, inflation and growth squeeze C-suite confidence July 17, 2023 Ratcheting up interest rate expectations and intense fears about sticky inflation has hobbled FTSE finance chiefs’ optimism, a closely watched survey out today shows. Confidence among chief financial officers (CFO) of FTSE-listed companies has tumbled over the last quarter, according to consultancy Deloitte. Optimism among money managers at Britain’s largest businesses has eroded to net [...]
Scrapping inheritance tax? Tories float tax cuts and help for house-buyers to turn around dire polling December 27, 2023 The Tories have been dropping hints they could make attention-grabbing pledges on housing and taxes as Rishi Sunak struggles to turn around his party’s major deficit in the polls.