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Seven more branches for Metro Bank

Metro Bank has raised £126m to support new branch openings as it eyes a flotation on the London Stock Exchange in 2014.

The bank, which launched in July 2010, has more than 80,000 personal and business accounts and 12 branches in the Greater London area.

But expansion in other areas has been more difficult for the bank, which had provided just 100 mortgages to customers at the end of 2011.

By the end of 2012, it expects to have 700 employees and to have opened a further seven branches – in Brighton, Reading, Hemel Hempstead, Romford, Staines and Epsom. The plan is to grow to 200 branches in the Greater London area by 2020.

This latest round of capital raising is the third since the bank launched.


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.

Offset wins exemption from European rules

Offset mortgages will not be banned in the European mortgage directive after fears they could fall under proposals to ban bundled mortgage products. Last week, Mortgage Strategy revealed savings-linked mortgage deals such as Lloyds Banking Group’s Lend a Hand scheme are set to be banned by the European Union. The move could also impact other […]

Home ownership could be a pipe dream for 73% of Britons by 2025

Just one in four households could have a mortgage by 2025 if the economy continues to stagnate, despite 81% of the population hoping to be home owners in 10 years’ time. A report commissioned from Cambridge university by the Resolution Foundation and Shelter claims that if the economy remains weak, the proportion of households owning […]

Pension savings-2015

Overseas transfer charge

By Jim Grant, Senior Product Insight & Technical Support Analyst, Royal London Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS). A transfer to an overseas pension scheme that isn’t a QROPS is therefore an unauthorised payment and taxed accordingly. However, even if the […]


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