Pre-tax profits have jumped 20% to £43.5m at Coventry Building Society in the first half of 2010:
“Congratulations to Coventry on what are excellent results. Given that it does not dual price I assume a large proportion of its lending growth must come from supporting the intermediary channel. HSBC should take note of this. The only way it is able to grow its book is by offering ridiculously low rates that look as if they are way below the cost of funds.”
LV= research shows equity release is set to become a key area of growth for IFAs: “Advisers have clearly taken on board the importance of the home in planning for their clients’ long-term future. The days of the family home being nothing more than something to leave as a legacy are well behind us. It is now our job to ensure that the family home is considered in each and every single case of providing for needs on later life.”
The Office for National Statistics is conducting a review of house price indices to see of there any gaps in consumer information.
“This is long overdue but it is the media that needs guidelines. It sensationalises any small element of bad news and blows it out of all proportion.”