Mortgage approvals hit highest level in two years as housing market recovers September 30, 2024 According to figures from the Bank of England, 64,900 mortgages were approved last month, up from 62,500 in July.
Morrisons strikes £331 million property deal amid significant debts September 26, 2024 Supermarket group Morrisons has agreed a £331 million property deal as part of efforts to slash its significant debt pile. The private equity-owned retailer said on Thursday that it expects to complete the “ground rent financing” deal around October 2. It said Morrisons will sell 76 properties to an undisclosed business, before these are then [...]
Industry crackdown as insurance scams surge September 26, 2024 The UK insurance industry identified £1.1bn worth of fraudulent claims last year, highlighting the importance of focusing on tackling bogus insurance claims.
Audi S3 2024 review: Grown-up hot hatch still has a wild side September 24, 2024 Celebrating its 25th anniversary, the Audi S3 has undergone a host of upgrades, aimed at making it more exciting than ever before. First introduced in 1999, the Audi S3 was the forerunner of the modern premium hot hatchback. Combining all-wheel drive with a turbocharged engine, the S3 has inspired a number of imitators since. For [...]
Close Brothers to sell asset management arm as motor finance bill looms September 19, 2024 Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
Close Brothers boss to take temporary medical leave of absence September 16, 2024 The bank said it would provide a further update "in due course". Its full year results will be announced on Thursday as planned.
Close Brothers shares jump as RBC sees ‘a number of potential catalysts’ August 29, 2024 Shares in Close Brothers jumped on Thursday after RBC upgraded its recommendation on the lender's stock, which has been dragged down by its exposure to a City watchdog review into unfair car loans.
City watchdog’s motor finance review drives up official complaints August 29, 2024 A review by the City regulator into now-banned commission arrangements on car loans has contributed to a surge in official complaints to the UK's financial ombudsman in recent months.
Secure Trust Bank upgrades cost-cutting target as FCA review weighs on earnings August 14, 2024 Secure Trust Bank has ramped up cost-cutting efforts, while a review by the City regulator affecting its vehicle finance arm weighed on the firm's earnings in the first half of 2024.
S&U: Motor finance lender urges Labour to change ‘restrictive’ regulation after profit warning August 12, 2024 Specialist lender S&U has urged the new Labour government to change the UK's "restrictive and constantly changing" regulatory regime after warning that actions by the City watchdog would have a "significant impact" on its motor finance business' profits.