Tag: Britannia

Co-operative 3.99% mortgage blows away competition

Co-operative 3.99% mortgage blows away competition

The Co-operative Bank and Britannia today launched a new five-year mortgage at a fixed-rate of 3.99%. The mortgage is available to homeowners with a deposit of at least 25%. Borrowers taking out the mortgage are required to pay a £999 fee. The two providers, which merged last year, also announced a two-year fixed rate mortgage […]

May 26, 2010 More
Co-op profits boosted by Somerfield takeover

Co-op profits boosted by Somerfield takeover

Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted “record sales and profits” for the 2009 year after its acquisition of Somerfield and its merger with the Britannia building society. The group said underlying operating profits before significant items soared 20% to £473 million over the year, while revenue was £13.7 billion. Meanwhile, the […]

March 18, 2010 More
Coventry Building Society in merger talks with Stroud & Swindon

Coventry Building Society in merger talks with Stroud & Swindon

According to reports this weekend, Coventry Building Society is in merger talks with its smaller rival, the Stroud & Swindon. The talks follow a series of recent mergers between Britain’s building societies and, should a deal be successful, will bring more consolidation to the mutual sector. The news comes as Coventry, which is the country’s […]

March 7, 2010 More
Co-operative Group gains market share, profits up 17%

Co-operative Group gains market share, profits up 17%

Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted a 17% increase in profits for the six months to 25 July of £228.8 million. The retailer, which is the UK’s fifth largest following its acquisition of Somerfield, said sales of its re-launched and extended ‘Simply Value’ range were up almost 80% on the year. […]

October 12, 2009 More
Britannia pulls 10%-LTV mortgages

Britannia pulls 10%-LTV mortgages

First time buyers are being further squeezed out of the mortgage market with one of the UK’s biggest lenders pulling its 10% deposit products. Britannia, which merged with Co-operative Bank earlier this year, said it will no longer offer mortgages to borrowers with a 10% deposit. The news further diminishes the tiny number of lenders […]

October 9, 2009 More
CFS declares vision for ethical future

CFS declares vision for ethical future

The Co-operative Financial Services (CFS) plans to build on its credentials as a “principled” and “ethical” organisation, chief executive Neville Richardson said today as he announced the firm’s first half-year results. “We are at the start of creating something quite special within UK financial services, a business which is member-owned, customer-led and ethically guided,” Richardson […]

September 11, 2009 More
Co-op and Britannia shrink conveyancing panel

Co-op and Britannia shrink conveyancing panel

The merger of Britannia building society with Co-operative Financial Services has resulted in 3,600 of the mutuals’ conveyancing panel members being dropped. Typically, solicitors on a lender’s approved panel act for the buyer and the lender. However, the system is open to abuse and could facilitate mortgage fraud because the solicitor involved is responsible for […]

August 24, 2009 More
Ethical savings boost with Co-op-Britannia merger

Ethical savings boost with Co-op-Britannia merger

Savers who care about whether their savings are used to fund arms companies or renewable energy received welcome news today with the merger of Britannia Building Society and The Co-operative Bank. The merger aims to create a “trusted and ethical alternative to shareholder-owned bank.” All three million Britannia members have joined or been given to […]

August 3, 2009 More
Long-term fixed-rates disappear

Long-term fixed-rates disappear

In a further reshaping of the UK mortgage market, the maximum length of a fixed-rate deal is down to 15 years, following Manchester Building Society’s withdrawal its 30-year fix. Prior to the credit crisis, the Government was proposing to help lenders offer more affordable long-term fixed-rate products, which at the time were common in the […]

July 22, 2009 More
Britannia cuts fixed-rates

Britannia cuts fixed-rates

Britannia Building Society has reduced rates on its two, three and five-year fixed deals by up to 0.95%. The new home loans are available from today (27th February) and the range includes a five-year fix with a rate of 4.24% for a 60% loan-to-value ratio. An arrangement fee of £999 applies. The lender is also […]

February 27, 2009 More
New mortgage deals from Standard Life and Britannia

New mortgage deals from Standard Life and Britannia

Standard Life Bank has cut rates and fees on certain products in its Freestyle range. From today, the rate on its three-year fixed home loan is down to 5.95% for up to 50% loan-to-value (LTV); five-year fixed residential rates are available from 5.99% (up to 75% LTV) and ten-year from 6.19% (up to 75% LTV). […]

September 18, 2008 More
Britannia launches five-year fix at 5.99%

Britannia launches five-year fix at 5.99%

Britannia Building Society is launching a new five-year fixed-rate mortgage on Friday 18th July. The loan will be available at a rate of 5.99% on loan-to-values (LTVs) of up to 75% and 6.39% on LTVs up to 90%. A £999 arrangement fee applies in both cases. The lender is still offering its existing five-year fixed-rate […]

July 17, 2008 More