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B&B says it’s had a good start to 2007

Bradford & Bingley has predicted that its net residential lending in the first half of this year will be almost double the level it achieved in the same period in 2006.

In a pre-close trading statement, the lender reported a good performance in the first half of 2007 with new organic lending volumes well ahead of those seen in the second half of last year, particularly in buy-to-let.

But B&B reveals net interest margins have deteriorated, partly because of the cost of two and three-year money. It says it expects this trend to continue. Arrears are slightly up since the year-end due to recent interest rate rises.

The group will submit its waiver application for Basle II at the end of this month.

Steven Crawshaw, group chief executive at B&B, says: “We’ve had an excellent start to 2007. And prospects are good for the second half of the year as demand continues to drive the buy-to-let market.”


10-Year Council Tax surge

The average Council Tax bill in Britain has increased by a whopping 91% over the past decade, research from Halifax reveals.Over the same period, the Retail Price Index has increased by just 31%, the price of services has gone up by 44% and average earnings have risen by 51%.The average Council Tax per dwell-ing in […]

Profits set to fall short of industry forecasts at NR

Northern Rock has revealed its full-year profit is set to fall short of market expectations.As rising forward interest rates take their toll on lending income, Northern Rock has admitted its 2007 underlying attributable profit for 2007 is set to rise about 15%, compared with the 17% increase pencilled in by analysts.The forecasts had predicted that […]

Moneyfacts appoints non-executive director

Moneyfacts has appointed Nigel Hopwood as non-executive director.Hopwood was formerly managing director of Assureweb and a board member of Bankhall Investment Management.John Woods, chief executive of Moneyfacts, says: “We are delighted to have recruited someone of Nigel’s calibre. “His board level experience in e-commerce development, IT strategy and involvement with both product providers and intermediaries […]

Dear Delia

Dear Delia My clients Jeff and Kerry entered into an individual voluntary arrangement when Kerry was pregnant, as her company only offered a statutory maternity package. When they decided to get a bank loan to extend their house they were told that as a result of entering into an IVA, they were classed as a credit risk and loans via traditional lending institutions were no longer open to them. Is this right, and if so, why?


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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