All the updated news related to lending

All the news related to lending updated in real time

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Bank orders lenders to set aside billions for rainy day fund

UK banks will need to set aside more cash to absorb shocks in the financial markets from next year, despite the Bank of England saying lenders are well placed to support households and businesses. Officials have ordered them to set aside 2% of their ...

05 Jul 2022 at 11:56

City

Lloyds profits fall as it sets aside £377m for loan defaults over living costs

Lloyds Banking Group revealed that customers have ditched 2.2 million subscription services since last summer in the face of soaring inflation as it posted a fall in half-year profits and higher loan default provisions. The high street lending ...

27 Jul 2022 at 09:48

City

Lloyds profits beat expectations but £377m put by for loan losses in cost crisis

Lloyds Banking Group has posted better-than-expected half-year profits, but revealed a £377 million hit to cover loan losses and further signs that customers are battening down the hatches amid the cost-of-living crisis. The high street ...

27 Jul 2022 at 12:55

City

Santander boosted by interest rate hikes but braces for mortgage hit

Banking giant Santander has seen its profits boosted by higher interest returns but cautioned that rates could peak at 6% in 2024 if inflation remains stubbornly high. The Spanish retail bank reported pre-tax profits of £1.5 billion ...

26 Oct 2022 at 11:59

City

Co-op Bank bolstered by higher interest rates as it hails turnaround progress

The Co-operative Bank has surpassed £100 million in profits after its turnaround plans gathered steam and higher mortgage rates boosted its margins. The once-flailing bank reported its seventh consecutive quarter of profits after ...

10 Nov 2022 at 14:20

City

Troubled Amigo to return to lending with new brand

Troubled sub-prime lender Amigo has set out plans to return to lending after a two-year hiatus marred by claims that it mis-sold loans. Shares in the business moved higher on Tuesday morning after it announced plans for new loan ...

28 Jun 2022 at 11:13

City

Amigo Loans loses customers and revenue but optimistic of return to lending

Amigo Loans has seen its customer base halved and its revenue cut by two-thirds as the troubled lender stays afloat despite its nearly two-year lending “pause”. The company stopped lending in November 2020 and has struggled to ...

25 Aug 2022 at 12:20

City

Lloyds Bank predicts ‘mild recession’ for UK this year and tumbling house prices

Lloyds Banking Group has said it expects the UK to dip into a mild recession this year, as it braces for a fall in house prices and as mortgage lending continues to recover following September’s mini-budget. The UK’s largest ...

22 Feb 2023 at 11:16

City

NatWest: Consumer confidence improving but Budget and US election weighs on mood

Activity in the housing market has picked up and consumer confidence has improved, despite uncertainty around the UK Budget dampening sentiment, NatWest has said. The bank revealed it grew its mortgage lending in recent ...

25 Oct 2024 at 10:20

City

Government-backed bank lends millions to people without jobs, data shows

A UK Government-backed business bank has lent about £60 million to thousands of people who have been unemployed or out of work over the past decade, new data shows. People who have faced redundancy, retirees and ...

06 Nov 2024 at 00:01

Mortgage approvals jump but housing market on ‘tenterhooks’ ahead of Budget

The number of mortgage approvals for home-buyers rose to a fresh two-year high in September, as borrowing costs continued to come down, new Bank of England figures have shown. Some 65,600 loans were approved ...

29 Oct 2024 at 10:36

City

First-time buyers driving mortgage demand as costs trickle down, Skipton says

Building society and property group Skipton has ramped up the amount it lent to first-time homebuyers, who it said are driving demand for mortgages, despite facing elevated borrowing costs. It also said ...

02 Aug 2024 at 12:07

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