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Fitch says UK banking system “very strong’

Fitch Ratings has called the UK banking system “very strong” in its most recent Bank Systemic Risk report.

The report, issued today, says the Northern Rock episode was an isolated event and that the system retains its “very strong” rating because no other large bank in the UK has had its individual rating downgraded.

Fitch does suggest, however, that the weakening property sector will likely exert moderate pressure on banks in both the UK and in Spain, leaving those active in the sector vulnerable to further write-downs and weaker earnings outlooks.


Steady as she goes for AR numbers

There has been little change in the total number of ARs in mortgage networks so far this year, although a couple of players have ambitious expansion plans, says Richard Griffiths

A&L to cut SVR by 0.25%

In line with the Bank of England’s recent interest rate cute Alliance & Leicester will be reducing the SVR on its mortgages by 0.25%.

KGB Packaging offers lifeline to TMO brokers

KGB Packaging has offered a lifeline to brokers who have pipeline cases with The Mortgage Operation, which is set to go into administration.KGB Packaging has offered help with re-types of applications, valuations, case progressing and provide a communications channel between brokers and lenders.Rachel Bancroft, managing director of KGB Packaging, says: “It is very sad to […]


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