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“Not the end” says FSA chief

Lord Adair Turner, chairman of the Financial Services Authority, has warned that the rescue of beleaguered lender Bradford & Bingley is not necessarily the end of the UK’s financial strife.

Turner says that the FSA is keeping a watchful eye over the market and that the regulator is prepared to step in again if needed to protect retail depositors and financial stability.

In an interview with Radio 4 Turner says: “We are not necessarily right at the end of this process.

“At the moment we believe our other high street banks are well capitalised and in a reasonable condition but we will have to keep this situation under review.

“Several times over the last year regulators and banks and treasuries have believed that the situation has reached a full resolution and that we can be confident that there is a turning point, and on several times they have been disappointed.

“We hope that we now have a turning point but we don’t know, therefore we keep it under review.”


Packagers hit by Mortgage Express withdrawal

The news that Bradford & Bingley has been nationalised this morning and that Mortgage Express will no longer offer new mortgage products has come as a blow to packagers. The nation’s largest buy-to-let lender has in the past been a favourite among packagers but slowly decreased its presence in the market over the past few […]

Lloyds TSB has got the deal of the century

Lloyds TSB, which is sponsoring the London Olympics to the tune of 80m, is set to take over HBOS, the UK’s largest mortgage lender, for 12.2bn and the move has been spun by all those involved as a rescue.

Grey area

Mole enjoyed the sights and sounds of Birmingham’s Botanical Gardens in honour of the Pink Home Loans Service Awards last week, thanks to edeus. Mole chuckled at many a quip from Pink managing director David Copland’s lips.

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Changes to capped drawdown tables

The tables used for capped drawdown maximum income calculations have been updated. We look at the reasons for the change and what the impact could be. Changes to capped drawdown tables Capped income drawdown involves taking a pension directly from a fund instead of buying an annuity. However, there’s a limit on the maximum amount […]


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