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Co-op still preferred bidder for 632 Lloyds branches

The Co-operative Bank is still the preferred bidder for 632 Lloyds Banking Group branches despite concerns the deal may fall through, according to reports.

Doubts were raised last week when Co-op chief executive Peter Marks is reported to have told the BBC the deal “may not go ahead”.

However, the Mail on Sunday reports a Lloyds Banking Group source as saying: “Exclusivity with Co-op will continue. It is the preferred bidder.”

The Co-op deal has been hit by delays due to FSA concerns about the ability of Co-op to manage the business. The regulator is understood to be pushing the firm to revamp its board and appoint managers capable of running large and complex financial services businesses.

NBNK is also rumoured to be making a second bid for the branches following the concerns. NBNK originally lost out to Co-op in the bidding process for the branches.


Private banks could pick up interest-only clients

There are signs brokers are turning to private banks to help clients get interest-only mortgages after a clampdown by mainstream lenders in the last month. Last week the Royal Bank of Scotland and Skipton Building Society became the latest lenders to cut back on interest-only. is reporting an uplift in enquiries for interest-only at […]


It has been a welcome return to normality after the madness of Budget week – although arguments are still rumbling on over Stamp Duty for those purchasing in company names, and the tax cut for the wealthy supposedly paid for by a bit of granny bashing.

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Clydesdale and Yorkshire panels to only use CQS-accredited solicitors

Clydesdale and Yorkshire banks have become the latest lenders to restrict their conveyancing panels. Last week the lenders announced that from April 16 they will only deal with solicitor firms accredited by The Law Society’s Conveyancing Quality Scheme, which number roughly 1,300. The Law Society has welcomed the move, which is in contrast to HSBC, […]


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