Tag: Cheltenham & Gloucester

Lloyds considering Halifax agency counter closures

Lloyds considering Halifax agency counter closures

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 [...]

August 31, 2009 | 0 Comments More
Lloyds brings job losses total to 7,500 this year

Lloyds brings job losses total to 7,500 this year

Banking giant Lloyds Banking Group has today announced it is shedding a further 200 jobs, bringing its total to 7,500 this year. The bank, which is 43% state-owned, said the latest job losses will affect the bank’s general insurance arm in Newport, South Wales and West Yorkshire. The latest round of job cuts will take [...]

August 25, 2009 | 0 Comments More
Lloyds to ‘review’ shutdown of Cheltenham & Gloucester

Lloyds to ‘review’ shutdown of Cheltenham & Gloucester

It has been announced that banking giant Lloyds Banking Group is reviewing its decision to close down its Cheltenham & Gloucester (C&G) subsidiary. In June, the mega-bank said it was closing all of its 160 UK C&G branches with the loss of hundreds of jobs but the decision may now be reversed. The u-turn has [...]

August 19, 2009 | 0 Comments More
Fixed rates begin their ascent

Fixed rates begin their ascent

The much forecast rise in fixed rates is well underway with Abbey announcing that it has put up the cost of its fixed-rate mortgages by between 0.25% and 0.5%. Lloyds banking group has also increased the cost of some fixed-rate deals via its Cheltenham & Gloucester and Halifax brands. The lenders are following a trend [...]

June 16, 2009 | 0 Comments More
1,500 jobs go as Cheltenham & Gloucester closes all branches

1,500 jobs go as Cheltenham & Gloucester closes all branches

Lloyds Banking Group is announcing further job losses today with the closure of all its 160 UK Cheltenham & Gloucester (C&G) branches with the loss of 1,500 jobs. Since April, Lloyds has axed almost 3,000 jobs which resulted in the Unite union accusing the banking giant of a embarking on a strategy of “death by [...]

June 9, 2009 | 0 Comments More
Mortgage lenders pass on 0.5% rate cut

Mortgage lenders pass on 0.5% rate cut

Eight major lenders yesterday confirmed plans to pass on the full 0.5% base rate cut to mortgage holders. Abbey, Barclays, Cheltenham & Gloucester, Halifax, HSBC, Lloyds TSB, Nationwide Building Society and Skipton Building Society have all announced interest rate cuts. Abbey said the full rate cut will be passed on to tracker mortgage holders, whilst [...]

February 6, 2009 | 0 Comments More
Lloyds TSB launches new tracker range

Lloyds TSB launches new tracker range

Lloyds TSB and its mortgage lending arm, Cheltenham & Gloucester (C&G), have launched a range of new tracker deals, with rates starting at 3.69%. Two-year loans with a maximum 60% loan-to-value (LTV) ratio are available in the lender’s All Weather range as follows: 4.09% (base rate +2.09) £1995 fee applies; 4.19% (base rate +2.19) and [...]

December 9, 2008 | 0 Comments More
Lenders react to base rate cut

Lenders react to base rate cut

Yesterday’s 1% cut in the Bank of England’s base rate, to 2%, has met with a mixed response from mortgage lenders. Despite pressure from Government Ministers, Halifax and Nationwide are opting not to pass on the full reduction to customers with standard variable rate (SVR) loans. So far, HSBC, Bristol & West, Lloyds TSB and [...]

December 5, 2008 | 0 Comments More
Tracker loans reappear

Tracker loans reappear

Following the large-scale withdrawal of tracker mortgages last week, as the bank of England’s base rate fell to 3%, a number of lenders have now reintroduced tracker loans, some having increased their margins. Abbey is offering a two-year tracker deal for those with a 25% deposit, at 1.99% above base rate (4.99%) compared with an [...]

November 13, 2008 | 0 Comments More
Lloyds TSB passes on 1.5% base rate cut in full

Lloyds TSB passes on 1.5% base rate cut in full

Lloyds TSB has confirmed that it will pass on today’s 1.5% cut in the base rate in full, to mortgage borrowers on its standard variable rate (SVR). The bank had previously pledged that its SVR will never be pitched more than 2% above the Bank of England’s base rate. Today’s reduction takes Lloyds TSB’s SVR [...]

November 6, 2008 | 0 Comments More
Tracker loans whisked away as base rate cut to 3%

Tracker loans whisked away as base rate cut to 3%

Leading lenders withdrew tracker mortgages just hours before the Bank of England’s Monetary Policy Committee agreed an historic 1.5% cut in the base rate, to 3%. Lloyds TSB and its Cheltenham & Gloucester (C&G) unit, Northern Rock and Woolwich have all withdrawn tracker products today. Yesterday, the Council of Mortgage Lenders (CML) warned that lenders [...]

C&G withdraws tracker loans in response to base rate cut

C&G withdraws tracker loans in response to base rate cut

Cheltenham & Gloucester (C&G), the mortgage lending arm of Lloyds TSB, has withdrawn some of its most competitive mortgage deals, from today. The move follows yesterday’s emergency cut in the Bank of England’s base rate, to 4.5%, which prompted leading lenders, including Halifax and C&G, to cut their standard variable rates (SVR). However, C&G has [...]

October 9, 2008 | 0 Comments More
Lloyds TSB raises mortgage rates

Lloyds TSB raises mortgage rates

Lloyds TSB and its Cheltenham & Gloucester subsidiary have increased rates on two and three-year fixed-rate loans by up to 0.26%. The bank’s two-year fixed-rate deal for those with a 75% deposit has risen to 6.44%; borrowers with only 10% of equity will pay 6.75%. Last week, Halifax, the UK’s biggest mortgage lender and part [...]

September 29, 2008 | 0 Comments More
Lloyds TSB and C&G cut fixed and tracker rates

Lloyds TSB and C&G cut fixed and tracker rates

Lloyds TSB and its mortgage subsidiary, Cheltenham & Gloucester (C&G), are cutting interest rates on two-year fixed-rate and tracker loans. The lenders’ full-term tracker mortgages will see the maximum benefit, with rates reducing by 0.38%, to 5.95%. The maximum loan-to-value (LTV) ratio on these deals is 20%. Interest on two-year fixed-rate loans with a maximum [...]

July 30, 2008 | 0 Comments More