View more on these topics

OneSavings acquires Interbay

InterBay Commercial has exchanged contracts with OneSavings Bank, which has conditionally agreed to acquire all the issued share capital of the specialist lender.

In May, the bank, which is part-owned by JC Flowers, revealed that it was in talks to buy the lender.

As part of the deal, the lender will continue to trade as InterBay Commercial and Colin Bell will continue in his role as chief executive officer.

InterBay Commercial has spent the past three years servicing its pool of commercial mortgages and retained a number of its lending staff to ensure it could return to lending once a suitable funder was found.

Bell says the partnership will allow it to return to lending in the small and medium business arena through brokers.

He adds: “The business will continue to focus on building on partnerships with packagers and widen our product offering into new market areas.”

Andy Golding, chief executive of OneSavings Bank, says: “We are committed to the UK market and look forward to announcing exciting products in the near future.


Insurancereview – June 2012

The insurance industry has received continued warnings over the years against poor selling practices by some distributors and the lax approach of some providers to the quality of distribution.

Shapps accused of false claims on housing data

Shadow housing minister Jack Dromey has entered into a war of words with housing minister Grant Shapps, accusing him of making false claims about the state of the UK housing market. He has accused Shapps of misrepresentation and misuse of official housing and homelessness data. Dromey has lodged a complaint against Shapps with the UK […]

Gross mortgage lending up 24% in May

Gross mortgage lending in May was an estimated £12.2bn, a 24% increase on April’s £9.9bn – taking this year’s gross lending so far to £55.7bn.

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


News and expert analysis straight to your inbox

Sign up