View more on these topics

HBOS had problems for weeks claims Darling

Chancellor Alistair Darling has revealed HBOS has had problems for several weeks.

In an interview with the BBC, he says: “We were onto HBOS problems for several weeks. It didn’t just suddenly happen.”

Alex Salmond, Scotland’s first minister feels HBOS has been forced into a “shotgun marriage” and that “spivs and speculators” in the financial markets are responsible for the deal by short-selling HBOS stock.

But Darling paints a different picture and says without the deal the outlook was “very bleak indeed”, and denies the deal has been rushed through.

The Financial Services Authority says it is satisfied that HBOS is a well-capitalised bank that continues to fund its business in a satisfactory way.

It says: “It is a welcome move as it is likely to enhance stability within financial markets and improve confidence among customers and investors in the UK financial sector.”


TCF helps brokers with self-cert sales

As I was extensively quoted in Mortgage Strategy’s recent feature on self-cert mortgages I thought I should definitively state my views on the subject.

If one firm suffers we all do

It has been a bad week for everyone in the financial markets, but especially for distributors. Firms have now got past the point of being able to find some joy in the downfall of their competitors so as an industry if one firm suffers we all do. The news that Solent Mortgage Services has appointed […]

Website matches buyers to sellers has launched a consumer service that connects prospective buyers with home owners looking to sell their properties.


News and expert analysis straight to your inbox

Sign up