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. [...]

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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 [...]

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UK Supermarket giant Asda has offered a crumb of comfort to the hard hit motorist by reducing the price of fuel on it’s forecourts by 3p per litre on unleaded and diesel.
The knock on effect swiftly saw supermarket competitor Morrisons follow suit, only their price cut is a saving of 4p per litre. Now Sainsbury’s [...]

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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 [...]

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The million policyholders that lost half of their investment with Equitable Life in 2001, when the company came to the brink of collapse, have been given some hope that they will be at last be able to seek compensation for their losses as a report from the Parliamentary Ombudsman Ann Abraham, is published.
The ombudsman found [...]

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