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Banking News Archive
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FSA Publishes Common Sense Mortgage Rules
The Mortgage Market Review (MMR) is a major piece of work that the regulator has been conducting over the last couple of years in a bid to lay down the rules for mortgage lending to follow in future. The new rules have been received favourably as the consultation begins to move into the final phase [...] -
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 [...] -
No movement from the MPC, but plenty elsewhere
The Bank of England announced no change to either base rate or the asset purchase scheme at their November meeting, to nobody’s surprise. Having just announced an unexpectedly large round of quantitative easing last month (which will take four months to carry out ), it’s unlikely we’ll see any further move before February 2012 – [...]
