Nationwide’s recent move to take over The Derbyshire and The Cheshire building societies is the latest symptom of the credit crunch in the mortgage market. Between them, the smaller societies had racked up a total of £27.5m in losses in the first half of 2007, and the deal could be said to have effectively saved them from collapse.
The Bank of England has pumped an additional $30bn (£16.8bn) into the market today.This is alongside the continuing operations under the swap facility to lend $10bn of funds overnight, and the outstanding one-week operation for $30bn conducted last Friday. These operations will therefore bring the total provision of US dollar liquidity by the BoE to […]
Total net lending to individuals has fallen significantly from £4bn in July to £1.4bn in August, data from the Bank of England reveals.
The Conservative Party has unveiled its proposals for overcoming the current financial crisis which include giving the Bank of England more power to monitor the country’s debt.
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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