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Readers think US-backed lenders will survive

last week’s Mortgage Strategy Online poll shows that 55% of readers are optimistic about the prospects for UK lenders with US parents and think they will be around this time next year, while 45% think UK subsidiaries may face the axe.

This week, Mortgage Strategy asks: “Will sub-prime lending return to the market within the next 12 months?”

Q: Do you think any UK lenders with US parent companies will be around this time next year?

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HSBC thrives as rivals retreat

HSBC and First Direct have recorded their best lending figures for five years as competitors withdraw from the mort- gage market.A spokesman for HSBC, which lends direct to consumers, says the surge in business levels has come because other lenders have reduced their presence in the market.He says: “We’ve been able to maintain a market […]

FSA report highlights lax data controls

Poor data control is a serious and widespread problem in the financial services industry.This is the conclusion of a report by the Financial Services Authority, Data security in financial services, which advises all firms to appoint senior data security managers and to test staff’s understanding of procedures.Philip Robinson, director of the FSA’s financial crime and […]


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