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FSA approves Yorkshire and N&P merger

The Financial Services Authority has confirmed that the merger of Yorkshire and Norwich & Peterborough building societies is to go ahead.

The proposed merger was announced in April this year and will complete on November 1 2011.

The merged society will be known as Yorkshire Building Society, which will retain its position as the second largest society in the UK with approximately three million members and 224 branches.

The N&P name will be retained as a distinct brand within the Yorkshire.

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Marketwatch

Swaps increased slightly last week. Initially they dropped but after the inflation figure was released they went up along with three-month LIBOR. Three-month LIBOR is up 0.02% at 0.91%.1-year money is up 0.02% at 0.96%2-year money is up 0.03% at 1.25%3-year money is up 0.02% at 1.35%5-year money is down 0.03% at 1.70% Well done […]

MARK BLACKWELL, Managing director, xit2

Lenders must lead fraud defence

The only way lenders can combat fraud in the conveyancing market is to set up their own control system. Web-based data checks, information sharing and visits to premises would allow them to vet, approve and moniter conveyancers and restore trust in the process

HML confirms FSA investigation is over but is tight-lipped on outcome

HML says the Financial Services Authority investigation into the firm, which was revealed in its 2010 accounts, has ended. In its 2010 accounts the mortgage servicer, which is owned by Skipton Building Society, says it was subject to a probe and there was a risk it would be fined or have to pay redress. The […]

Movers and shakers celebrate our success

Mortgage Strategy marked its 10th birthday in style last week at the plush Corinthia hotel in London. The great and the good of the industry congregated at the event to enjoy fine wine and entertainment into the wee hours of Thursday night. Mortgage Strategy was launched as the mortgage industry’s first weekly trade magazine on […]

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