Tag: British Bankers’ Association

Mortgage approvals nudge ahead

Mortgage approvals nudge ahead

The UK’s High Street banks approved 74,590 mortgages in July, with the figure up from 71,521 in June and ahead of the previous six-month average (69,803). According to the British Bankers’ Association (BBA) house purchase approvals came in at 33,417, activity having gathered pace since June (32,123) and exceeded the previous six-month average (30,695). At [...]

August 23, 2011 | 0 Comments More
Bank ring-fencing threatens UK economy

Bank ring-fencing threatens UK economy

Britain’s banks are warning that ring-fencing their retail activities, to protect against investment banking losses, could endanger the UK economy because of the cost involved. A ring-fencing proposal will form part of the Independent Commission on Banking’s (ICB’s) final report, due out in September. However, according to the British Bankers’ Association (BBA), the proposed reform [...]

August 23, 2011 | 1 Comment More
Weak mortgage lending continues

Weak mortgage lending continues

Annual growth in banks’ gross mortgage lending stood at £7.6 billion in June, with the figure 11% lower than a year earlier, according to the British Bankers’ Association (BBA). Early signs of growth in the buy-to-let market were evident but both house purchase and remortgaging approvals continued to be weak, and with repayments still at [...]

July 27, 2011 | 0 Comments More
Banks abandon PPI legal battle

Banks abandon PPI legal battle

May 9, 2011 | 0 Comments More
Which? report concludes savers losing billions in interest

Which? report concludes savers losing billions in interest

Savers are missing out on billions of pounds in interest payments, according to a report by consumer group, Which? According to the report, by leaving money in low interest accounts, savers are missing out on a possible £12 billion. According to the consumer association, interest rates are not made clear to consumers on their bank [...]

October 26, 2010 | 0 Comments More
Think tank warns of fresh bank bailout

Think tank warns of fresh bank bailout

According to the New Economics Foundation (NEF), banks could be forced to seek more support from the taxpayer next year, due to a £25 billion funding gap. The NEF has published a report on Britain’s banks entitled “Where Did Our Money Go?” and the 88-page document suggests an urgent reform of the sector is required, [...]

October 4, 2010 | 0 Comments More
Nick Clegg warns banks of bonus crackdown

Nick Clegg warns banks of bonus crackdown

Deputy Prime Minister, Nick Clegg, has today warned banks over their excessive bonuses, suggesting the coalition Government will take very serious action if they “pay themselves unjustified bonuses”. Speaking to BBC Radio 4′s Today programme, Mr Clegg said: “Clearly, if the banks pay themselves unjustified bonuses, we reserve the right to take very serious action [...]

September 21, 2010 | 0 Comments More
Banking results season kicks off this week

Banking results season kicks off this week

British banks will unveil their first-half profits this week with the five biggest banks expected to reveal they are back in the black. Banking giant HSBC will kick off the reporting season tomorrow, with Lloyds Banking Group and Standard Chartered announcing their results on Wednesday, Barclays on Thursday and Royal Bank of Scotland (RBS) on [...]

August 1, 2010 | 0 Comments More
Banks hide rate cuts from savers

Banks hide rate cuts from savers

Banks are keeping their customers in the dark about interest rate changes on their accounts, new research has found. The study by Which? Money found most banks rely on newspaper adverts or customers popping into their local branch to keep savers informed of rate cuts Only four of the twelve banks investigated guaranteed to keep [...]

July 29, 2010 | 0 Comments More
Mortgage lending down as home owners focus on repayment

Mortgage lending down as home owners focus on repayment

The British Bankers’ Association (BBA) has reported that gross mortgage lending amounted to £8.7 billion in March, with the figure 0.4% down on a year earlier and below the average of the previous six months (£9.2 billion). According to the BBA, repayments were stronger than usual as lenders actively encouraged borrowers to use surplus cash [...]

April 27, 2010 | 0 Comments More
Budget 2010: Bank accounts for all

Budget 2010: Bank accounts for all

In yesterday’s Budget, Chancellor Alistair Darling said that every UK citizen will have the legal right to have a bank account. According to the Treasury’s Financial Inclusion taskforce, there are 1.75 million people in the UK that do not have a bank account. The taskforce said half of the 1.75 million come from the poorest [...]

March 25, 2010 | 0 Comments More
New mortgage lending up 16%

New mortgage lending up 16%

New figures from the British Bankers’ Association (BBA) show February’s gross mortgage lending at £8.6 billion, having staged a recovery from January’s low of £8 billion. The number of house purchase loans approved by the UK’s banks leapt 16% year-on-year, to 35,276, having managed a slight increase on January’s figure of 35,154. Furthermore, the value [...]

March 23, 2010 | 0 Comments More
New mortgage lending falls away

New mortgage lending falls away

The British Bankers’ Association (BBA) has reported that mortgage lending in January was “relatively weak”, as adverse weather conditions and an inflated December market impacted on house sales. Last month, BBA members approved 35,000 loans to home buyers, down from 46,000 in December but up 37.8% on a year earlier. Remortgaging approvals stood at 20,252, [...]

February 23, 2010 | 0 Comments More
Mortgage lending stronger in December

Mortgage lending stronger in December

Mortgage lending by Britain’s High Street banks strengthened slightly in December, although the end of the stamp duty holiday is likely to have prompted a surge in completions before the New Year. The British Bankers’ Association (BBA) reported net lending of £3.5 billion during the month, up from £3.4 billion in November and showing an [...]

January 26, 2010 | 0 Comments More
New mortgage lending continues recovery

New mortgage lending continues recovery

Gross mortgage lending in November showed a slight monthly rise, according to the British Bankers’ Association (BBA). The figure stood £9.2 billion but was still 12% down on a year earlier. However, banks approved £6.6 billion in house purchase loans, up from £6.1 billion in October and a 200% increase on November of last year. [...]

December 23, 2009 | 0 Comments More
Banking industry criticise Treasury’s plans for windfall tax

Banking industry criticise Treasury’s plans for windfall tax

Over the weekend, it emerged that Chancellor Alistair Darling is expected to announce a windfall tax on British banks in Wednesday‘s Pre-Budget Report. The measure is one of many being planned by Mr Darling to target high earners. Other measures include increasing the number of people liable to pay inheritance tax, as well as an [...]

December 7, 2009 | 0 Comments More
Banks nudge up new mortgage lending

Banks nudge up new mortgage lending

Britain’s High Street banks approved more new mortgages and loans for house purchases in October, with the figure nudging up from 42,073 in September, to 42,238 According to the British Bankers’ Association (BBA), the improvement reflects continued growth from the low levels seen at the end of last year. BBA statistics director, David Dooks, says [...]

November 24, 2009 | 0 Comments More
Bank mortgage lending stabilises

Bank mortgage lending stabilises

The British Bankers’ Association (BBA) has reported that in August, gross mortgage lending by the UK’s High Street banks followed a similar pattern to earlier months of the year. Net lending (gross lending with repayments and redemptions stripped out) returned to trend, increasing by £2.8 billion, compared to a rise of £1.9 billion in July. [...]

September 23, 2009 | 0 Comments More