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Banks Archive
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A virgin chained to a rock
Richard Branson has a name for securing a very good price for himself and on the face of it, he’s got another good deal with Virgin Money’s acquisition of Northern Rock which was announced today. Virgin Money is paying under £750m and leaving the taxpayer on the hook for a possible loss of £650m since [...] -
Bank of England says economic woes may mean higher mortgage rates
After the release today of the Bank of England’s latest Monetary Policy Committee (MPC) minutes, you’ll probably see many scary headlines saying the Bank of England considered even more Quantative Easing (QE, aka printing money) than the £75 billion voted for. £100 billion in fact. Let’s balance that by pointing out that they also considered [...] -
Building Societies report growth in mortgage lending
The Building Societies Association (BSA) has reported encouraging lending figures for August. Mortgage approvals lifted by 10% on July this year and were up 17% compared with August 2010. Gross mortgage lending reached an 11 month high in August lifting to £2.1bn and marked an increase of 8% on the figures for August 2010. [...]
