One in five first-time buyers take out 35-year mortgages or longer amid economic turmoil March 4, 2024 Personal savings and mortgage lending were battered by inflationary pressures and higher borrowing costs last year, according to new data, amid a surge in home buyers take out loans with terms of 35 years or longer.
Lloyds becomes first high street bank to invest in community lenders after backing £62m fund March 4, 2024 CDFIs are non-profit lenders based in local communities that make personal loans at low interest rates to households and businesses which struggle to access credit elsewhere.
Bank of England had 28 ‘major’ compliance breaches in a year but ‘good progress’ made March 4, 2024 The public spending watchdog has found dozens of "major" compliance breaches at the Bank of England over the course of a year, despite it taking steps to address shortcomings.
Santander faces potential shareholder revolt over chair’s pay March 3, 2024 A key proxy adviser has urged Santander shareholders to vote against changes to executive chair Ana Botín’s pay package at the bank’s annual general meeting this month.
ECB ‘in no rush’ to cut interest rates as markets hunt for signs of a pivot March 3, 2024 Having hiked interest rates to their highest levels in more than two decades, the ECB is now considering when to start easing the pressure on households and businesses.
Spring Budget 2024: Hunt set to unveil Natwest government share sale aiming to raise up to £4bn February 29, 2024 Chancellor Jeremy Hunt is set to unveil more details on the government's plan to sell its shares in Natwest to retail investors at next week's Spring Budget, alongside wider reforms to boost UK capital markets activity.
Metro Bank brings in Barclays executive as new CFO amid major restructuring February 29, 2024 Metro Bank has appointed Barclays executive Marc Page as its new chief financial officer as the lender undergoes a major restructuring designed to shore up its balance sheet.
Ex-Chancellor Philip Hammond appointed as chair of fintech Railsr February 29, 2024 Former Chancellor Philip Hammond has been appointed as the chair of Railsr, a year after the embedded banking platform was rescued from collapse.
Clearbank appoints former SVB Europe risk head as UK chief executive February 29, 2024 Clearbank has named Emma Hagan, formerly Silicon Valley Bank Europe's chief risk officer, as its new UK chief executive.
Coventry Building Society sees profit boost from rate hikes as Co-op Bank merger talks continue February 29, 2024 Higher interest rates have boosted Coventry Building Society's annual profits as the lender continues to negotiate a potential merger with the Co-op Bank.