View more on these topics

Northern Rock to reduce SVR from May 1

Northern Rock is cutting its SVR by 0.10% to 7.49% for exisiting borrowers.

The move comes after this month’s base rate cut and will be effective from May 1.

The bank is also offering a loyalty discount rate of 7.24% for borrowers whose loans qualify for a loyalty discount after seven years.


FTBs’ share of market falls

The National Association of Estate Agents has revealed first-time buyers’ share of the mortgage market fell from 11.7% in February to 8.3% in March. It blames tighter lending criteria caused by the credit crunch.

Barclays director to advise FSA

The Financial Services Authority has appointed Naguib Kheraj, former finance director at Barclays Group, as senior adviser to its Supervisory Enhancement Programme. The scheme will implement the recommendations of the Northern Rock inquiry that criticised the regulator’s handling of the crisis.


News and expert analysis straight to your inbox

Sign up