View more on these topics

Bank bosses go head to head with PM

Bosses of the UK’s biggest banks will today hold talks with the Prime Minister in a bid to devise urgent solutions to the credit squeeze.

Gordon Brown is set to meet the chief executives of Barclays, HBOS, HSBC and Royal Bank of Scotland, along with senior investment bankers from the city.

It is believed that the banks will call on the PM to unblock the money markets to alleviate the effect on the economy of the credit squeeze.

Pivotal to the talks will be moves to revive demand for mortgage-backed securities and attempts to reduce inter-bank lending rates.

It is believed bank executives want the Bank of England to follow other central banks, such as the US Federal Reserve, in accepting mortgage-backed securities as collateral in exchange for government-backed bonds.

More extreme moves such as the central bank buying up mortgage-backed securities, then holding onto them until demand starts up again, will also be discussed.


Accord pulls deals at short notice

Accord Mortgages has pulled its prime fixed and tracker rates in response to high business volumes. The lender says it gave brokers only 90 minutes’ notice to avoid a spike in mortgage applications.

Going green in UAE

The world’s first zero-carbon city is being built near Abu Dhabi in the United Arab Emirates.Masdar City has a development budget of US$22bn and is expected to be completed in 2016.It is a project of the World Wild-life Fund’s One Planet Living programme, aimed at proving it is possible to build in a green way […]

HomeLoan Partnership’s sales show healthy increase

Worthing based mortgage network, HomeLoan Partnership, is embarking on a round of business development forums in Manchester and Crawley this month as sales increase.Martin Cave, managing dircetor at HomeLoan Partnership, says: “March 2008 mortgage sales matched the same period last year and insurance sales showed a healthy increase. We continue to add new initiatives to […]

Phone - thumbnail

Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


News and expert analysis straight to your inbox

Sign up