Birmingham Midshires is poised to pull the plug on 48 of its 67 branches through a phased programme that is scheduled to conclude in March next year.Following the conclusion of the programme, existing BM branch-based customers will have the option of banking at their nearest Halifax branch. The majority of these are situated within 300 metres of BM branches. All BM’s mortgage business is already conducted through direct and intermediary channels, with mortgages last being offered in BM’s branches in 2003. And some 98% of the company’s new savings business is done by post or telephone. BM became part of the Halifax Group in April 1999 with savings balances of 5.9bn and mortgage assets of 9.2bn. The lender’s savings balances have since doubled to 12bn and mortgage assets have more than trebled to over 32bn. The company stresses it is not closing any branches where it is the only banking provider in town. Nigel Stockton, managing director of BM, says: “This is the right decision for Birmingham Midshires and its customers. “Most of our customers, who do not require a branch service, will be able to operate their accounts by telephone, post or via the internet.”
Bradford & Bingley has launched a 72-hour remortgage offer through Norwich and Peterborough, exclusively for online customers. The initial rate is 4.5%, with the second year being at base rate plus 0.25% and the third, base plus 0.50%. It then reverts to base plus 0.75% for the remainder of the term. The deal includes free […]
TFC Homeloans launches its first standalone legal package in association with London & European today, adding a complete web-based panel management solution to the TFC Homeloans branded portfolio.The value-added package is available to intermediaries at £399.00 inclusive of VAT and disbursements, and promises faster completions on all TFC re-mortgages through the adoption of L&E’s complete […]
The London branch of Natexis Banques Populaires has appointed Steve Day head of non-bank financial institution relationships, as part of the bank’s international growth strategy. Day will develop corporate banking relationships with mortgage and asset finance providers.
Veysi Ertekin was today sentenced to three years imprisonment at Middlesex Guildhall Crown Court for money laundering the proceeds of drug dealing.Officers from HM Revenue & Customs observed two men, Mohsen Sadeghi-Kivi and Mansour Mohammadi collecting bags from other individuals in suspicious circumstances. Two of these hand-overs were between Mohammadi and Veysi Ertekin. Sadeghi-KiviI and […]
Flexible benefits platforms are becoming increasingly popular, with 80% of employers with more than 100 employees offering some form of flexible benefits scheme, compared with just 11% a decade ago. However, global mobility of employees is on the rise, with nearly 57 million expats predicted by 2017, which can add further complexity to your picture.
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