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CMA clears OSB and Charter Court merger plan

The competition and markets authority has given the proposed merger between OSB and Charter Court unconditional clearance.

The £1.6bn all-share merger was first announced in March of this year, and the CMA investigation began in June.

The resulting loan book would come to £15.5bn

OSB runs the Kent Reliance brand, while Charter Court operates the Precise Mortgage brands.

Under the terms of this proposed merger, OSB shareholders would hold around 55 per cent of the combined group, with Charter Court shareholders holding the remaining 45 per cent. Current OSB chief executive Andy Goulding would take charge of this new larger lender.



Weak CMA powers risk more leaseholder pain, warns MP

The Competition and Markets Authority needs greater powers in order to tackle abuse of the leasehold system, the chairman of an influential group of MPs has claimed. Housing, Communities and Local Government Committee chairman Clive Betts has written to secretary of state for housing James Brokenshire to warn that without reforms to watchdog’s enforcement role, […]


CMA to probe merger of OneSavings Bank and Charter Court

The Competition and Markets Authority is to investigate the proposed merger of OneSavings Bank and Charter Court Financial Services.  At this stage, the CMA is inviting comment on whether this tie-up would substantially reduce competition in the mortgage market.  Interested parties have until June 19 to submit comments or objections. These will then be assessed […]


CMA to investigate mis-selling of leasehold properties

The Competition and Markets Authority has launched an investigation into the mis-selling of leasehold properties. The CMA will examine whether leasehold contract terms are unfair in relation to ground rent and controversial ‘permission charges’. It says it will do this using consumer protection law powers, rather than by way of a market study at this […]

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FCA to invest £5m in register

The FCA is investing £5m in its register of regulated firms, chief executive Andrew Bailey has said. Speaking at the watchdog’s annual public meeting this morning, Bailey said that he recognised “there are data quality issues” in the list, but the FCA was aware how important in can be to give consumers information. Bailey said the […]


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