It is always a bit of a drag to come back from hols. Buying English newspapers abroad like the Daily Telegraph makes you realise how pessimistic the papers are. Or are things really bad? I was in Spain and apparently the country is sliding into recession but it seemed the place was open for business as usual.
One drawback has been the collapse of sterling against the euro. I don't think Spain really needs a hard currency but we found our euros flying out the window when we went to a few meals.
It has taken ages to get back into things but I am wondering if I apply for Gordon Brown's new energy package. Depending on which part of Spain you are in, you don't have to worry too much about being cold.
www.searchifa.co.uk
Wednesday 27 August 2008
Wednesday 6 August 2008
Santander's Abbey chases HBOS in UK mortgage share.
The specialist publication moneymarketing.co.uk has published the list of top institutions according to UK mortgage loans. In top spot is HBOS, (which operates Halifax and Bank of Scotland) with £73.1bn or an estimated 20.1 per cent of the UK mortgage lending market. Chasing hard is Abbey, which is part of the Spanish banking group Santander with £35.6bn or 9.8 per cent. The list comes from the Council of Mortgage Lenders (CML) and covers 2007.
The Abbey's market share has improved in comparison with the 9.4 per cent level in 2006. The Spanish-owned affiliate admits that the exit of other companies from the UK market has helped.
www.searchifa.co.uk
It would be interesting to get up-to-date figures since Northern Rock would probably have a very different position to last year. In 2007 the Newcastle-based bank had fallen from third to fourth with £29.1bn or estimated market share of 8.1 per cent.
Its new management wants to shrink the loan bank but it might just end up with a load of duff loans. The 2008 first-half results showing losses of half a billion plus were terrible.
The CML figures showed UK building society Nationwide had grown from 5th to 3rd in the ranking with £33.9bn or an estimated mortgage share of 9.3 per cent. My mortgage is with the Nationwide.
The Abbey's market share has improved in comparison with the 9.4 per cent level in 2006. The Spanish-owned affiliate admits that the exit of other companies from the UK market has helped.
www.searchifa.co.uk
It would be interesting to get up-to-date figures since Northern Rock would probably have a very different position to last year. In 2007 the Newcastle-based bank had fallen from third to fourth with £29.1bn or estimated market share of 8.1 per cent.
Its new management wants to shrink the loan bank but it might just end up with a load of duff loans. The 2008 first-half results showing losses of half a billion plus were terrible.
The CML figures showed UK building society Nationwide had grown from 5th to 3rd in the ranking with £33.9bn or an estimated mortgage share of 9.3 per cent. My mortgage is with the Nationwide.
Tuesday 5 August 2008
I am a bit worried about the missus' B and B shares!
I am a bit worried about what to do with the shares held in British mortgage bank Bradford and Bingley by my spouse.
I suppose we could give the rights issue (capital raising) a miss. I could take financial advice from an independent financial adviser . We could spend the £184 (I think it was the sum last time I looked) on the hols instead.
I suppose the UK stock market will be spooked by the gory figures from the nationalised Northern Rock. Alot of customers are probably throwing in the towel with the change in economic circumstances. Those 125 pct mortgages are coming to haunt the Geordie bank in a big way. Gawd knows why I invested (and then sold) a modest sum in Northern Rock. Not that I am a big expert on UK bank shares. In the weekend FT the Scottish investment expert Colin McLean noted that Northern Rock had posted upward earnings per share for five years. Sounds like some dodgy regulation by the British regulators and this is probably a problem at Bradford and Bingley. Would there be a mercy killing? The banks will probably have their own problems and would want to wait until conditions improved. Perhaps there could be a joint bid.
I suppose we could give the rights issue (capital raising) a miss. I could take financial advice from an independent financial adviser . We could spend the £184 (I think it was the sum last time I looked) on the hols instead.
I suppose the UK stock market will be spooked by the gory figures from the nationalised Northern Rock. Alot of customers are probably throwing in the towel with the change in economic circumstances. Those 125 pct mortgages are coming to haunt the Geordie bank in a big way. Gawd knows why I invested (and then sold) a modest sum in Northern Rock. Not that I am a big expert on UK bank shares. In the weekend FT the Scottish investment expert Colin McLean noted that Northern Rock had posted upward earnings per share for five years. Sounds like some dodgy regulation by the British regulators and this is probably a problem at Bradford and Bingley. Would there be a mercy killing? The banks will probably have their own problems and would want to wait until conditions improved. Perhaps there could be a joint bid.
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