UK Finance News

LLoyds TSB the UK’s fourth biggest lender has announced that it is pulling out of the 100% mortgage market with immediate effect.
The group has said that mortgages arranged through its Cheltenham and Gloucester sudsidary will require a minimum of 10% deposit.  The group will still offer mortgages of up to 95% of property value, through its [...]

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The Royal Bank of Scotland, the UK’s second largest bank, recorded a rise of 9% in underlying profits to £10.3billion for 2007. The profit showing despite a writedown of £2.5billion related to turmoil in global markets.
RBS faced a £1.6 billion writedown due to its  losses in the US mortgage market and a further £900million written [...]

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At last one of the leading UK mortgage lenders has shown some sense, by telling house-buyers in London that they must raise a deposit of at least 25% or be penalised with higher interest rates.
The minimum deposit required by Nationwide building society to secure their best rates has risen to a sensible 25% up from [...]

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Big businesses in the UK have warned the Chancellor Alistair Darling not to consider them as an easy touch in his forthcoming Budget speech.
A survey of Britains largest businesses, conducted by Price Waterhouse Coopers, showed that  the 72 companies that took part, paid a total of £23billion in tax last year, of that £12.8billion was [...]

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Britains fourth largest energy supplier npower, have reported an increase in profits for this year of 41% on the previous years figures.
Coming just a day after British Gas posted a five fold increase in profits, the news is bound to anger homeowners, business and watchdog organisations. Indeed energy industry regulator Ofgem launched an investigation into [...]

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