Banking News
Abbey response to UK inflation announcement
Barry Naisbitt, Chief Economist at Abbey said: "The 3% reading for CPI inflation in December is higher than the Bank of England was expecting just a few months ago. It is also as close as it can get to breaching the upper boundary limit of the inflation target. Attention will now turn to next month and the publication of the January figure because the price level fell last January, as it tends to do because of sales discounting.
One of UK’s largest Islamic finance deals concluded
In a landmark arrangement representing the second largest Islamic finance deal in the UK, the purchase of the Grosvenor House Apartments Ltd by Park Lane Properties Ltd, co-owned by Kuwait based ADEEM Investment Company (ADEEM) and The Investment Dar (TID), has been successfully refinanced with Lloyds TSB Corporate Markets.
Overdraft charges exposed after commons debate
With today’s Commons debate fuelling the fire of discussion on banking penalty charges, moneysupermarket.com urges people to ensure they understand the current account charges they face from their current account or get their fingers burnt.
Average divorcing couple has assets worth over £230,000
January is one of the busiest times of the year for divorce lawyers. Over 140,000 couples could get divorced during 2007 and analysis of industry data by MoneyExpert.com reveals that collectively they could have more than £32.2 billion of assets to divide between them or over £230,000 per couple.
Banks generate extra £624 million from increased rates
It seems 2006 has been a busy year for banks, in the last 12 months consumers have been hit with a barrage of increased interest rates and charges.
HSBC launches new programme to cut paper use
HSBC’s campaign to cut down on its use of paper has reached a major milestone, with HSBC customers turning off paper statements for one million current accounts, savings accounts and mortgages.
Aviva ties up with IndusInd Bank
Aviva, the international savings, investments and insurance group, has announced a new bancassurance tie up with Induslnd Bank in India.
Abbey kick starts 2007 with top offers
Abbey is encouraging people to get more out of their money this year by offering a selection of January deals.
Nationwide to increase mortgage and savings rates by 0.25%
Following yesterday’s increase in the Bank of England Base Rate, Nationwide will be increasing rates on all variable rate mortgage and savings products by 0.25% on 1 February 2007.
Barnardo’s and Lloyds TSB join forces to make a real difference for children
Barnardo’s is delighted to announce that it has been appointed as Lloyds TSB ‘Charity of the Year’ for 2007.
Lloyds TSB launches UK's first banking 'superstore' for international customers
Lloyds TSB today opened the UK's first dedicated banking 'superstore' for international customers in the heart of Manchester, offering people moving to the UK a hassle free banking service.
Zopa will pass on the full base rate rise to lenders
Zopa lenders with money waiting to be lent out to borrowers will enjoy the full benefit of the Bank of England’s base rate rise as of midnight tonight.
Bank of England raises interest rate to 5.25%
The Bank of England’s Monetary Policy Committee today voted to raise the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.25%.
Interest rate hikes are top intermediary issue for 2007
As the Monetary policy Committee meets today (11th January) to discuss its Base Rate, new research by GE Money Home Lending finds that the potential of future interest rate increases is the key issue for UK mortgage brokers in 2007.
first direct launches big 7 sale
first direct, the UK’s most recommended bank, has launched a new year sale on seven of its top products that could save customers hundreds of pounds - and the chance to win a brand new Audi A4 Cabriolet, a week at the 7 star Burj Al Arab hotel in Dubai and £2,000 to spend on jewellery in first direct’s big 7 prize draw.