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Buoyant Leeds looks to lift lending by a quarter

Leeds Building Society is targeting a 25 per cent increase in new mortgage lending this year after posting a 33 per cent rise in profit for 2010 to £42.2m from £31.7m in 2009.

New mortgage lending rose by 7 per cent from £922m to £984m, with an average loan to value of 53 per cent.

The level of arrears, based on 2.5 per cent or more of outstanding mortgage balances, improved from 2.24 per cent at the end of 2009 to 2.16 per cent.

Impairment losses, money set aside for future losses, dropped from £52.5m to £44.2m. Savings balances grew by £245m to £7bn.

Chief executive Ian Ward says: “In 2011, we plan to increase our new lending by at least 25 per cent to around £1.25bn.

“This will be welcomed by homebuyers as we provide more capacity and choice to the mortgage market. Leeds Building Society has again proven its ability to deliver higher levels of profitability, savings balances and new mortgage lending as well as an increase in members and very strong capital and reserves.

“This means that we are in an excellent position to increase new lending significantly in 2011 and continue to be a successful, independent building society throughout this year and beyond.”


Sesame adds outside platform recommendations

Sesame Bankhall Group will recommend platforms provided by Aviva, Ascentric, Cofunds, Fidelity and Skandia to its advisers alongside Sesame One. In November, Sesame Bank-hall Group launched its investment platform, Sesame One, in conjunction with Axa Elevate. The proposition was part of a wider initiative to support and train members on using platforms and prepare them […]


Royal London sees 26% rise in new business

Royal London has reported a 26 per cent increase in new life and pensions business for 2010 from £2.5bn to £3.1bn. Scottish Life, Royal London’s asset management businesses including the Ascentric wrap, and Royal London 360°, Royal London’s international markets business, led the group’s performance. Scottish Life reported a 37 per cent rise in new […]

The final piece of the RDR puzzle

In my last column, I mentioned we were still waiting for the final rules on the profession-alism strand of the retail distribution review. Well, it was not long coming. The FSA published PS 11/01 in mid-January, giving us the last pieces of the professionalism jigsaw. The policy state-ment covers four main areas. It completes RDR […]

Managing customers in drawdown

By Lorna Blyth, Investment Marketing Manager Delivering a decent drawdown review process takes time and resources. This article looks at how you can manage drawdown clients in a more cost-effective way. Most advisers are seeing an increase in drawdown clients following pension freedoms. Often these are clients with lower fund sizes, which means advisers are […]


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