The deadline for the sale of 318 RBS branches passed on Monday 14th June 2010 with only one bidder remaining; The spanish bank Santander.
RBS are looking to do a deal for between £1.5billion and £2billion with Santander likely to offer £1.7billion to secure the purchase. If the deal does go ahead then it further strengthens [...]

The European debt crisis is unveiling similar signs of the subprime mortgage meltdown in the United States on 2007, with pressure and disruption in the financial system becoming more prominent as the problem gets worst by the day, according to a review by the Bank for International Settlements (BIS).
The BIS review [...]

Dunfermline Building Society’s head office in Fife is to become the regional administrative centre for Nationwide, its UK based parent company.

Nationwide acquired a majority stake in the Dunfermline following its collapse in March last year and its intentions are to close the head offices of Cheshire and Derbyshire building societies [...]

The Barclays subsidiary lending arm, Woolwich, has teamed up with Bovis, the UK  housebuilder to offer 1st time buyers a new mortgage product.
This new product is available up to a loan to value of 90% but only if the buyers are purchasing a new Bovis home. It also comes with 3 years accident, sickness and [...]

Cheshire Building Society has today confirmed that it is to close its Macclesfield headquarters with the los of almost 250 jobs.
The Cheshire is owned by Swindon based Nationwide Building Society and the HQ closure is in addition to five other local branches that Nationwide is due to shut. A spokesman for Nationwide said that the [...]

SPANISH banking giant BBVA is thought to be mulling a takeover bid for National Australia Bank’s UK business, following its withdrawal from the £2 billion auction of more than 300 Royal Bank of Scotland branches.
NAB, owner of Clydesdale and Yorkshire banks, has previously said that it sees itself as a platform for consolidation of the [...]

New research out this week tells how single people now outnumber married couples as first time buyers.
Mortgage provider Santander found that over the last five years 37% of first time buyers were single, compared to 29% who were married.
This is the first time single people have outnumbered married couples as first time buyers.
In the 1970s, [...]

Royal Bank of Scotland has announced plans to cut 500 of the 3,500 jobs in its wealth management arm, which has two outposts in Manchester.
Coutts & Co, the private bank, and Adam & Co, a wealth management business, both have offices in the city.
RBS did not say exactly where the jobs axe would fall but [...]

The UKs largest building society, Nationwide, is to slash the rates across its five-year fixed rate mortgages for homebuyers and remortgage customers by up to 0.31 per cent.
Homebuyer products include a 4.68 per cent five-year fixed-rate, with a loan-to-value up to 70 per cent, and a five-year fixed rate at 5.79 per cent, with a [...]

Looks like the Manchester Building Society could make a tidy £5m profit in just over 3 years if they decide to sell the Manchester based commercial bank.

There are rumours emanating from very reliable sources that there are three new secured lenders launching in the first quarter of 2010.

The Government confirm that they are extending the scheme by 6 months.

Sussex based Passive Investments has gone into liquidation.