Abbey National has slipped from second to third in terms of mortgage market share, according to the Council of Mortgage Lenders’ annual ranking table of the biggest lenders.Abbey saw its share of gross mortgage lending in the year to April 30 drop to 8.6 per cent from 10.7 per cent over the previous 12 months. The lender had 25bn of gross mortgage lending in the year to April 30, 2005. Lloyds TSB has leapfrogged Abbey and Nationwide to rise to second from fourth place. Abbey director of protection and mortgages Ricky Okey admits service at Abbey has seen significant problems since he was appointed to his role five months’ ago but says he is instigating significant changes to service to rectify a rocky per-iod which followed the start of mortgage regulation. GMAC RFC just failed to meet its own prediction that it would break into the top 10 of the league table and is 11th although its gross mortgage lending was up from 4.8bn to 6.3bn over the period. Lloyds TSB’s market share remained at 9 per cent but gross mortgage lending has risen from 24.2bn to 26.3bn. HBOS remains top of the league although gross mortgage lending was down on last year from 70.3bn to 68.1bn, and market share fell from 26 per cent to 23.4 per cent.
The Treasury select comm- ittee will meet the FSA early in the next Parliament, with the effects of depolarisation set to be a key issue for dis- cussion. Labour MP Andrew Love, a new TSC member, says one of the first actions of the committee after the recess will be to meet the regulator to […]
Total lending increased in June by 16 per cent according to the Council of Mortgage Lenders, the fifth consecutive monthly increase.June lending was still 9 per cent lower than the same month last year, down from 22.3bn from 28.2bn.Lending for house purchase increased by 20 per cent to 11.9 billion in June, up from 9.9 […]
The latest issue of Skandia’s protected portfolio investment range provides capital growth linked to an equally weighted portfolio containing the Artemis income, Schroder UK mid-250, New Star UK alpha, Norwich property trust and Invesco Perpetual corporate bond funds over a five-year term. Informed Choice director Martin Bamford says: “This protected portfolio invest-ment differs from the […]
As I write this, Tiger Woods has just carded a six under par total of 66 on the first day of the British Open at St Andrews and it made me think what he would have scored had he only been able to use his pitching wedge and putter rather than every club in his […]
Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.
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Latest statistics show personal pensions, in particular, get a bad rap The recently published preliminary estimates from the Office for National Statistics’ Wealth and Assets Survey make for interesting reading with regards to how people view pension savings and how safe they are. The next round of this survey will be even more interesting in light […]
Beaufort Group is planning to add three more firms to its network with one deal expected to finalise next week. Chief executive Andrew Bennett says the other two small to medium-sized firms are expected to join “imminently”. In January, Beaufort Group added Statehouse Group as an appointed representative. The firm is now called Beaufort Financial […]
Significant gilt weightings continue to be recommended, despite concerning signals on their risk Government bonds play a pivotal role in a balanced portfolio; there are very few assets that provide the diversification benefits gilts can bring. So often over the last 30 years, when equity markets have zigged, bond markets have zagged, thereby smoothing return […]