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Merger rules changed to protect society deposits

The Financial Services Authority has modified regulations to allow merged building societies to be covered by deposit protection compensation as separate entities.

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Reintroducing the right-to-borrow

Looking at the current mortgage funding crisis and the fall of the former building societies such as Bradford & Bingley and Halifax, it is fascinating to note that back in the 1980s the Building Societies Association was lobbying parliament for new legislation which would allow its members to become mortgage banks.And intriguingly, a key player […]

Lazenby has his time in the Sun

He was described as a twice-divorced building society tycoon but the Sun did not describe him as young or pneumatic and he didn’t quite make page three – we are, of course, referring to Mike Lazenby, chief executive of Kent Reliance Building Society, who the Sun featured in its eight-page post-pre-Budget pullout on November 26 as an example of someone in the £150,000 tax band who will be worse off after April 2011, when he’ll be paying tax at 45p in the pound.

Shadow MPC advocates 1% base rate cut

Members of Mortgage Strategy’s GE Money Home Lending Shadow Monetary Policy Committee are calling for a 1% rate cut ahead of the official decision this week.

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