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Saturday 21st of March 2009

News Tag: withdraw

November 6, 2008

Tracker loans whisked away as base rate cut to 3%

by Gill Montia
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 Lloyds TSB and its Cheltenham & Gloucester (C&G;) unit, Northern Rock and Woolwich have all withdrawn tracker products today.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 would not necessarily ...



October 9, 2008

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

by Gill Montia
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Cheltenham & Gloucester (C&G;), the mortgage lending arm of Lloyds TSB, has withdrawn some of its most competitive mortgage deals, from today.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 However, C&G; has now withdrawn a ...



October 2, 2008

Northern Rock withdraws savings deals

by Kay Murchie
”Northern
Nationalised bank Northern Rock has had to withdraw some of its savings deals after a flurry of deposits has put it close to breaching state ownership rules. Since it was nationalised in February, Newcastle-based Northern Rock has been offering some of the best savings rates, making it highly attractive for concerned savers to put their money. However, due to the financial turmoil and ...



September 30, 2008

Five hundred mortgage products disappear overnight

by Gill Montia
Five hundred mortgage products disappear overnight
The rescue of Bradford & Bingley (B&B;) has prompted a mass withdrawal of mortgage products from the already depleted UK market. According to financial website, Moneyfacts, around 500 home loans have been withdrawn since the beginning of this week. The number of mortgages available for residential and buy-to-let borrowers fell 11% in 24 hours to 3,469. Residential mortgages now number 2,988 while buy-to-let ...



September 24, 2008

Customers queue to withdraw savings from Bank of East Asia

by Kay Murchie
”Customers
Thousands of customers have been lining up to withdraw their savings from the Bank of East Asia after rumours spread that the bank is facing financial collapse, an allegation which the bank has fiercely denied. The police have been informed and are investigating after the bank said the rumours were malicious and untruthful and were believed to have ...



September 19, 2008

HSBC abandons $6bn offer for KEB

by Kay Murchie
”HSBC
HSBC has confirmed it is to withdraw its $6 billion (£3.3 billion) bid to purchase a 51% stake in Korea Exchange Bank (KEB). The majority stake is owned by US private equity firm Lone Star Funds. The acquisition was agreed by HSBC over a year ago but regulators in South Korea withheld approval, pending investigation into Lone Star’s investment practices in ...



May 29, 2008

New mortgage deals put in fleeting appearances

by Gill Montia
New mortgage deals put in fleeting appearances
Financial website Moneyfacts.co.uk has discovered that new mortgage products are little more than a flash in the pan because they are available for an average of 11 working days. In April, when the base rate was reduced by 0.25%, some mortgages actually put in a fleeting appearance that lasted only six days. This time last year, the average life of a new ...