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BBA says bank lending is steady

Despite falling house pri-ces, mortgage lending from major British banking groups remains steady, according to latest British Bankers&#39 Association figures.

According to the BBA&#39s figures for March, mortgage lending has risen to £436.9bn from £432.1bn in February.

The results are taken from the MBB group which includes Abbey National, Alliance & Leicester, Barclays, Bradford & Bingley, HBOS, HSBC, LloydsTSB, Northern Rock and the Royal Bank of Scotland.

Although Isa flows were as strong as March last year, other deposits were weak. Total deposits for March rose by £4.5bn to £634bn from £629.5bn in February, which the banks attribute to lower personal deposit inflows towards the end of the tax year.

BBA director of statistics David Dooks says: “Apart from Isas, where people were using up their annual investment limits, personal savings and current accounts were weak in March and mortgage lending continued to grow at the high yet stable level of the last nine months or so.”


Protection pathway

Given the perilous state of the investment markets, many IFAs who considered creating wealth to be at the heart of their businesses have found it necessary to diversify their activities over the last couple of years.I was speaking to the chief executive of one national IFA who summed matters up eloquently by pointing out: “There […]

Big firms facing FSA regulation fee of £25k

Big mortgage and general insurance intermediaries could face a one-off bill of up to £25,000 for applying to be regulated by the FSA while smaller firms face a maximum of £1,200.According to CP180, firms with £1m or less in annual income pay £500 if they apply electronically before April 1 for mortgages or June 1, […]

New roles for ex-Whitechurch pair Cockerill and Perry

Former Whitechurch Securities employees Tim Cockerill and Warren Perry have respectively joined Principal Investment Management and IFA/fund manager group Lindsay Welbeck.Cockerill becomes a senior discretionary fund manager at PIM responsible for clients in the West, some PR and research. He spent several years with Whitechurch before moving to Chartwell Investment Management in 2000, leaving last […]

Survey says boom is over as average house prices fall

Average UK house prices fell by 0.1 per cent in April, providing firm evidence that the house price boom is truly over, according to Hometrack latest national house price survey.Its says these figures provide the first real evidence that the property boom is over despite the fact that house price inflation has been declining since […]

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Absence management systems gone AWOL from UK’s SMEs, reports Jelf

A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


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