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HBOS and Lloyds in rumoured merger talks

It has been reported by the BBC that HBOS and Lloyds TSB are in merger talks.

Shares in HBOS have dropped by as much as 200p since markets closed on Friday but have rallied this morning rising to 190p at time of writing.

Shares in Lloyds have fluctuated wildly this morning rising as high as 297p before falling to 261p. Share prices now sit at 291p.

A merger would create a British banking giant with over 139,000 potential employees and nearly 30m existing customers.

Neither Lloyds or HBOS are commenting on the situation.


Fed bails out AIG

The US Federal Reserve has bailed out beleaguered global insurer American International Group to the tune of $85bn.

Bad news for packagers as GEMHL increases rates

GE Money Home Lending has increased its rates across its First National and igroup brands blaming exceptional volatility in global financial markets.All cases below 80% LTV on its First National brand will now incur a completion fee of 2995, with rates increased by 0.80% across the board.Rates for cases above 80% LTV will be increased […]

Darling has over-egged the pudding

Chancellor Alistair Darling’s recent media outburst in which he stated that the UK faces the worst economic outlook in 60 years was nonsense. In the 1940s Britons faced petrol, clothing and food rationing and in the 1970s we suffered the three-day week and inflation hit more than 25%.

SMS offers extra commission

Solent Mortgage Services is offering brokers commission fees of up to £50 or an additional 10% on business submitted via its online portal Porthole and its Solent Enquiry to Application System.

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Financial advice can benefit customers by £40,000

New research shows those customers who receive financial advice can be better off on average by £40,000 We’ve sponsored a research project with the International Longevity Centre – UK (ILC-UK) to produce ‘The Value of Financial Advice’ report. This independent research demonstrates that customers who take financial advice can, on average, be £40,000 better off than those […]


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