First-time buyers help drive surge in lending

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First-time buyers help drive surge in lending

First-time buyers help drive surge in lending
According to the Council of Mortgage Lenders, mortgage lending to homebuyers enjoyed a double-digit jump in the 12 months to January as a record number of first-time buyers managed to step on to the property ladder.
The Times, p. 46
Also appeared in : Financial Times, p.4, The Daily Telegraph Business, p.3, The Times, p.43

SPAIN TO LOOSEN MORTGAGE RULES AFTER EUROPEAN COURT RULING
Spain will make it easier for homeowners to fight eviction after the highest court in the European Union ruled that the country’s mortgage laws were too hard on borrowers struggling to pay.
International Herald Tribune, p. 17

Dimon ‘lied to investigators’ over London Whale losses
Jamie Dimon, the head of JPMorgan Chase was accused last night of lying to the US Senate and conspiring to hide from regulators trading losses that ballooned to $6.2 billion.
The Times, p. 43
Also appeared in : Financial Times, p.1, The Guardian, p.31, The Daily Telegraph Business, p.1, The Times, p.1

UBS pays £17m ‘golden hello’ to the man who broke RBS
Yesterday UBS faced fresh outrage about banker pay after it emerged it has paid one of the men behind the disastrous sale of ABN Amro to Royal Bank of Scotland a Sfr25m (£17m) golden hello. The payment to Andrea Orcel, the Swiss bank’s new head of investment banking, comes in the year the firm was hit by record fines for Libor rigging.
The Independent, p. 49
Also appeared in : The Daily Telegraph Business, p.4, Independent i, p.49, International Herald Tribune, p.14, The Guardian, p.31, The Times, p.43, Financial Times Companies and Markets, p.19, The Times, p.47

Commission declines to ban market gambling
The banking commission has stepped back from banning banks using their own funds to take risky bets on markets and instead called on the new sector regulator to clamp down on such proprietary trading.
The Guardian, p. 34
Also appeared in : The Daily Telegraph Business, p.4, Financial Times Companies and Markets, p.17

Osborne to help smaller banks raise SME lending
The Chancellor will announce a new scheme in his Budget to help “challenger” banks such as Aldermore lend to small and medium-sized businesses.
The Times, p. 47

Cable pledges push by business lender
Vince Cable yesterday told the yearly conference of the British Chambers of Commerce that a state-backed business bank would start investing this year.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 3

Climbdown on cards over £50bn bank shortfall alert
FSA officials have looked at the suggestion that British banks were short of up to £50bn in capital and concluded that much of the feared shortfall is covered in other ways.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 3
Also appeared in : Financial Times, p.3

Members of rate-setting body gagged by Bank
The Bank of England will prevent members of its interest rate-setting committee from publishing individual opinions on the economy despite a review of its procedures calling for greater transparency.
The Guardian, p. 34
Also appeared in : The Daily Telegraph Business, p.4

Investec staff buy stake in its asset management unit
Investec has sold a 15 per cent stake in its asset management division to a group of staff in a £180m deal.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18
Also appeared in : The Times, p.43, Independent i, p.50, The Independent, p.52

Multibillion-¬pound outflows hurt F&C
F&C Asset Management yesterday reported that underlying profits before tax rose to £52.4m at the end of December 2012, an 11.4 per cent increase.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 22

Fed tells banks to fix capital problems
The Federal Reserve has ordered Goldman Sachs and JP Morgan to fix weaknesses in their capital planning.
The Daily Telegraph Business, p. 4

The above articles appeared on 15/03/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.