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Rates may rise under savings-lending link

The FSA’s push for lenders to fund more of their mortgage lending through retail savings deposits could force mortgage prices up.

Speaking on a mortgage panel debate at the Sesame symposium, Nationwide group distribution director Matthew Wyles said intense competition for deposits might mean lenders have to raise their mortgage rates or take a hit on their margins.

He said: “There is a direct correlation between savings and mortgage rates because they are broadly linked to the same metrics. Retail savings will continue to be a tremendous focus for lenders because we are getting pushed by regulators and the market to fund more of our balance sheets in the retail market. “Savers are going to see strong, ongoing competition and we expect saving rates will remain the same or improve next year. That has got to be financed out of margin, more risk-taking or higher mortgage rates.”



FOS upholds complaint against IFA over Arch cru

The Financial Ombudsman Service has provisionally upheld a complaint against an IFA who recommended clients to invest in Arch cru, and ordered the adviser to pay redress. In a provisional decision published on the FOS website today, ombudsman Tony Boorman (pictured) says he decided to uphold the complaint on the basis that the recommendation to […]

Neptune: Don’t be scared of cash during volatility

Neptune head of client investment strategies Douglas McDowell says managers should not be afraid of using cash during market volatility. Speaking at the Cofunds investment forum in Hertfordshire last week, McDowell said money managers in the balanced managed sector do not use cash as a strategy during market volatility. He said: “The out-of-market risk in […]


Labour and Conservatives clash over Northern Rock sale

Treasury financial secretary Mark Hoban has defended the decision to sell Northern Rock to the private sector telling MPs no credible option for remutualisation was put forward. During a ministerial statement on the sale in Parliament yesterday, Shadow Treasury financial secretary Chris Leslie said not enough consideration had been given to remutualisation. Hoban said the […]

Is this the endgame for the current mergers & acquisitions boom?

Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles


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