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A&L complies with Basle II

Alliance & Leicester says it has become the first UK bank to comply with Basle II regulations. Basle II, which imposes regulatory capital requirements to lending risks, will affect most lenders next year but smaller banks and building societies are looking to comply now.

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Rate rise will spark repossessions, warns actuarial consultancy

Actuarial consultancy Punter Southall has warned that the surprise rate rise may spell further misery to homeowners who are battling against repossession.John Postlethwaite, consultant at Punter Southall, say: “This rise could start to put pressure on those people who have borrowed up to their maximum and the Royal Institute of Chartered Surveyors has predicted that […]

Portman revises fixed rates

Portman has made a number of changes to its fixed rate mortgage range following the recent rise in swap rates. The society is now offering a two-year fixed rate of 4.83%, or 5.59% with no arrangement fees.Its three-year fixed rate is now at 5.25% or 5.49% with no arrangement fees. It is also offering a […]

SAGA to offer equity release advice

SAGA has created the SAGA equity release service, an advice service for those considering releasing equity in their property.The service, in partnership with equity release advisers Just Retirement Solutions, includes a full state benefit analysis to see whether equity release is the best solution. SAGA charges a one off flat fee of 349 is payable […]

Broad money figures prompt rate rise fears

Annual UK broad money growth at the end of 2006 shot up to 14% – the highest since 1990 – prompting fears of further interest rate rises to combat inflation.