UK Finance News

Sub Prime mortgage lender Edeus look to be a bit desperate to off load some of the mortgages on it’s books, having offered a discount to customers for early re payment.
Edeus have so far tested the water with 400 of it’s customers and interest from eligible customers is said to be 20% at this stage. [...]

[Read more →]

Bank Of England governor Mervyn King has suggested that Banks should put ‘billions of pounds’ into a fund over the next ten years to prevent another Northern Rock disaster.
King told a meeting of the Commons Treasury select committee yesterday that banks should make “non-negligible contributions” into the Financial Services Compensation Scheme, adding that over ten [...]

[Read more →]

Reports in this weekends press suggest that only around 10% of HBOS shareholders participated in the banks rights issue to raise £4billion.
Experts are concerned that the take up may be so bad that it will leave underwriters Morgan Stanley & Dresdner with as much as £3.6bn worth of the banks stock.
HBOS had hoped to rally [...]

[Read more →]

UK criminals are keeping one step ahead of credit card technology despite the introduction of Chip and Pin which was designed to give the customer more security.
Figures for credit and debit card fraud last year, rose to an incredible £535million, with criminals using new methods of committing credit card crime.
The skimming of cards being used [...]

[Read more →]

Pressure from the government to avert another Northern Rock crisis has led to Alistair Darling announcing new proposals which have been put forward to the Financial Services Authority for approval.
The chancellor wants the current limit for compensation raised from £35,000 to £50,000. However Banks have already hit out at the idea of paying into a [...]

[Read more →]