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First Direct resumes lending

First Direct has resumed offering mortgages to borrowers today after withdrawing from the market in April.

It says it has cleared a backlog of mortgage application approvals which had forced it to suspend its mortgage offering to new customers.

First Direct says it has completed a year’s worth of mortgages in the past three months.

It will now offer a two year fixed rate of 5.76 per cent plus fees. Its offer is only available to those who have a deposit of 20 per cent or more.


HBOS sells out of Rightmove

HBOS has sold its entire stake in property website Rightmove for 59.2m. It announced last week the sale of 16.2 million shares at 365p each through UBS and Numis. It previously held 20 per cent of the firm when it floated on the stockmarket in 2006.


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