Mortgages: UK lenders continue to raise rates and pull deals
Record 19% of all loans taken out by first-time buyers in March were for 35 years or longer Business live – latest updates Mortgage market misery has stepped up for homebuyers as lenders continue to increase borrowing rates and pull deals, prompting record numbers to take out loans of more than 35 years in an […]
Bank of England chief warns of further interest rate hikes if firms raise prices – business live
Andrew Bailey appeals to businesses to avoid price rises because higher inflation ‘hurts least well-off in society’ Stock markets are in the red again, with the FTSE 100 index down 67 points, or 0.9%, at 7,431. Germany’s Dax has lost 133 points, or 0.9%, to 15,076 while France’s CAC fell 65 points, or 0.9% to […]
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is reportedly in play to acquire Sainsbury’s Bank’s £650 million mortgage loan book. Co-operative Bank reportedly bidding for Sainsbury’s Bank £650m loan book The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte that has seen challenger Starling Bank already drop out, Sky News reports. Sky News […]
UK borrowers may struggle to repay debt as economy worsens, says Santander
Bank puts aside more money to protect itself from potential defaults in expected recession The impending recession could leave borrowers struggling to repay their debts, the high street bank Santander UK has said as it put aside more cash to protect itself from potential defaults. The UK arm of the Spanish bank said on Thursday […]
HSBC to close more than one in four bank branches in the UK
Round of 114 site closures in 2023 will cut total to 327 as bank reveals usage by regular customers has fallen by two-thirds Full list of HSBC closures: is your local branch on it? HSBC is to shut a further 114 branches in the UK – more than a quarter of its network – after […]