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30th of December 2010
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News Tag: Bank of Scotland

June 29, 2010

Scotland sees cost of home ownership fall by 4%

by Gill Montia
The cost of owning and running a home in Scotland has declined by 4% over the past two years, according to research by Bank of Scotland. Between April 2008 and April 2010, average yearly expenses fell by £388, from £8,949 to £8,562. In real terms (after allowing for retail price inflation), the figure is down by 8% but ...

April 28, 2010

Rescued lenders fail to impress mortgage borrowers

by Gill Montia
Mortgage customers with two of the UK's rescued banks are less than happy with the service they receive, according to new research from Which? Money. The 41% state-owned Lloyds Banking Group has the furthest to go: only 41% of Bank of Scotland borrowers surveyed expressed satisfaction, while the group's Halifax unit impressed 44% of home loan customers, and Lloyds TSB 48%. In ...

October 7, 2009

SAMS mortgage holders to have their day in court

by Gill Montia
People who took out shared appreciation mortgages (SAMS) in the 1990s are to have their day in court. The mortgages were sold by Barclays and Bank of Scotland, usually at 0% interest, and were secured against the future equity growth in a property. Loans were made for up to 25% of a property's value and only have to be repaid ...

August 31, 2009

Lloyds considering Halifax agency counter closures

by Kay Murchie
Lloyds Banking Group is considering more job losses as the bank plans to close more than 300 “agency” counters run by its Halifax subsidiary in the offices of estate agents, solicitors or financial advisers. Agency counters are not Halifax branches and their staff are employed by the agent as part of their wider business and the closures are part of the process ...

July 6, 2009

Halifax surveys affordability of seaside towns

by Gill Montia
Halifax has completed a round-up of seaside property prices in England and Wales in a survey that places all ten most affordable seaside locations in northern England. Whitehaven in Cumbria comes top of the list, with the lowest average house price to earnings ratio in the first quarter of 2009. Withernsea on the East Yorkshire coast follows, with Maryport in Cumbria taking ...

March 26, 2009

Small businesses predicted deflation annoucement

by David Masters
This week’s announcement that Britain is staring into the abyss of deflation comes as no surprise to small businesses. A recent survey by the Bank of Scotland found that two thirds (66%) of small businesses expected inflation to 'decrease' or 'flatten out' over the course of 2009. However, the outlook of small businesses is not completely gloomy, with some experiencing deflation as a positive. A quarter (26%) of SME's polled said deflation would ...

August 6, 2008

Rate cut round up

by Gill Montia
Rate cut round up
This week has seen a round of rate cuts from High Street lenders, as competition appears to be returning to the market. Royal Bank of Scotland and NatWest have announced interest rate cuts of at least 0.10% on their new fixed and tracker mortgages, while rates on some other deals are being reduced by up to 0.30%. Abbey is making itself attractive to new borrowers ...

Persimmon and Halifax promise to double deposits

by Gill Montia
Persimmon and Halifax promise to double deposits
Persimmon has joined forces with Halifax to help first-time buyers enter the property market. The housebuilder's "double your deposit" scheme does exactly what it says as long the funds are used to buy a new Persimmon home. To participate in the offer, a would-be homeowner needs to make regular deposits of up to £5,000 into a savings account with Halifax or Bank ...

July 18, 2008

Halifax cuts mortgage rates

by Gill Montia
Halifax cuts mortgage rates
Halifax has announced that it is cutting some mortgage rates from 19th July, having already reduced the cost of a range of loans during last week. The bank is lowering rates on its two-year fixed-rate mortgages by 0.1% and on its five-year deals by 0.15%. The move is aimed at keeping the UK's largest mortgage lender competitive, as in the past few days Nationwide, ...