View more on these topics

BSA reveals October lending the highest of 2005

Lending and saving figures from the Building Societies Association reveal building society gross advances amounted to 3,808m in October, compared to 3,497m in October last year.

Net advances were 929m in October, down from 1,055m in October 2004, and approvals increased to 3,870m from 3,021m in October 2004.

In the savings market, building societies had net inflows of 821m in October 2005, down from 1,068m in October 2004, and building society net receipts into cash ISAs were 60m.

Adrian Coles, director-general of the BSA, says: “Building society lending has picked up over the last couple of months or so, with both seasonally adjusted gross advances and commitment to lend reaching their highest figure of the year in October.

“The market seems to be showing a slow but steady recovery, but it is clear that we are nowhere near boom conditions and there is no possibility of such conditions emerging over the next year or two.”


Hamilton joins Zurich

Peter Hamilton has joined Zurich as protection management director. Joining from Friends Provident where he was head of protection marketing, he is responsible for managing and developing Zurich’s business protection proposition.

Don’t forget secured loans

Brokers are being urged to make more use of secured loans as a borrowing option for their clients by Promise Finance. Steve Walker, managing director of Promise, spoke of the secured lending opportunities available at a seminar during the Mortgage Business Expo last week. Walker says: “Anyone licensed by the Office of Fair Trading should […]

Coulson case settled?

The court battle between Richard Coulson and his former employers Zurich, is thought to have been settled out of court.Coulson had been due at the High Court of Justice in London this month to dispute allegations that he was still in Zurich’s employment while promoting his network, Home of Choice.However, an announcement is expected in […]

The CII introduces diploma in financial planning

The Chartered Insurance Institute is to introduce a diploma in financial planning for 2006 as part of the phased replacement of the advanced financial planning certificate with a new modular qualifications framework. In the eight years since the last major review of the AFPC there have been significant changes not only in regulation and distribution […]

Top seaside property hotspots revealed

Like to let beside the seaside? The latest research from LendInvest looks specifically at coastal towns to find which areas offer the top average rental yields to landlords. Where are the top seaside postcodes for landlords? The interactive map below looks at the highest rental yields along the UK coast. According to the data, Hull, […]


News and expert analysis straight to your inbox

Sign up