Mortgage and Business News » Lloyds TSB

Lloyds TSB Internet Banking: New Data Centre Expansion

Peter — Wed, 26 Jan 2011 10:20:07 +0000

Over the years Internet banking has become more and more popular, and it is for that reason why Lloyds TSB has confirmed that they will push ahead with their expansion, by building a new data centre. We are told that the new operation will be built in Dumfriesshire at a cost of £200 million.

According to BBC News, the bank is said to be holding a big meeting some time this week to discuss the plans for the project. We are not sure how locals will react to the data centre being built on a farm, but outline planning permission was granted last year. The good news is that 600 new jobs will be created for the building work, and 50 once complete.

That’s not to say that the plans will go ahead, which is the reason for this week’s meetings. In these meetings residents can still have their say – so maybe they could change the minds of Lloyds TSB if they have any concerns?

DatacenterDynamics reports that the bank will hope to push ahead and submit its full planning application in March. Will you oppose the plans, or will it be good for the area?

Lloyds, RBS, and Barclays dominate TD Waterhouse share dealing

Peter — Mon, 11 May 2009 11:04:10 +0000

The dealing activity at TD Waterhouse last week was dominated by buying and selling shares in UK banks such as Barclays (LON:BARC), Lloyds TSB (LON:LLOY) and RBS( LON:RBS), following the rally in the markets the previous week.

Dealing in shares was up by 16 per cent overall, compared to the figures on the previous week. A majority of traders focused on the shares of these UK banks, and according to Fair Investment, had experienced gains ahead of last week’s much anticipated trading updates.

Top of the sell trades was Barclays, shares rose to around 279, this is a great improvement to its low point in January, which went down as low as 51p. Shares in RBS accounted for 40 per cent of buys and 20 per cent of sells.

Lloyds Banking Group: Staff find out who receives £80m bonuses

Peter — Mon, 09 Mar 2009 09:32:19 +0000

Today is the day when staff at Lloyds Banking Group (LON:LLOY) find out who will receive £80 million in bonuses. Members of the majority taxpayer-owned Lloyds board have said that they will forgo their payments; the bank has said that ~~staff will get on average £17,000 each~~.staff who received bonuses would be those earning on average £17,000.

BBC news reports that their political correspondent Ian Watson said that MP’s are certain to question these payments. The announcement of these bonuses comes just days after the government increased their share in the bank to 65%.

The government will have to do something about these huge payouts, with not only Lloyds, but also all the other banks that they have shares in. It seems that the government is giving these banks an open cheque and allowing them to spend the money how they like, not thinking of the taxpayer, who are the real owners after all.

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British government to drop Lloyds Banking Group interest charge

Peter — Tue, 24 Feb 2009 09:35:40 +0000

There are rumors that the British government could drop Lloyds Banking Group’s (LLOY.L) interest charge on a taxpayer loan. This interest amounts to £480 ($700 million); this will be in exchange for the bank to increase their lending to homebuyers and small businesses.

This plan will hopefully help to reduce the financial pressures on Lloyds, as well as help to increase lending in Britain. This plan is very similar to the deal that Finance Minister Alistair Darling did with Royal Bank of Scotland (RBS.L) last month, their preference shares were converted into ordinary shares. This saw taxpayers stake in the bank increase from 50 to 70 per cent.

Later this week it is expected that Lloyds Banking Group’s (LLOY.L) and Barclays (BARC.L) will place billions of toxic assets into a UK government insurance scheme, plans of this should be unveiled sometime later this week.

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Nationwide, Lloyds TSB and HSBC new SVR

Nikki — Thu, 08 Jan 2009 15:04:08 +0000

After today’s interest rate cut of half a percent only three lenders Lloyds TSB (LON:LLOY) mortgage arm Cheltenham & Gloucester (C&G), HSBC (LON:HSBA) and Nationwide have agreed to pass on the full rate cut to their Standard Variable Rate (SVR).

HSBC will pass on the full half a percent to its borrowers that are linked to its SVR, this will mean that HSBC SVR will be 3.94 percent from February 6.

Lloyds TSB and its mortgage arm Cheltenham & Gloucester are legally bound by the terms and condition to pass on the full rate cut, due to the clause that does not allow the banks SVR to be higher than 2 percent of the Bank of England’s base rate, reducing Lloyds TSB SVR to 3.5 percent from February 1.

Nationwide has a similar clause in their terms and conditions and will also be reducing its SVR to 3.5 percent, although they have insisted that they will not reduce the rate for borrowers on existing tracker mortgages.

Source: timesonline

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Lloyds TSB: Advises to check your home insurance in the big freeze

Nikki — Tue, 06 Jan 2009 10:01:49 +0000

Check your insurance policy says Lloyds TSB Insurance after the cold spell has caused many water pipes to burst.

According to Lloyds TSB repairing burst water pipes can be extremely expensive, with the average repair costing about £1,400 and in some extreme cases costing up to £40,000 to repair.

Due to the UK seeing relatively mild winters the insurer has said that many homeowners are unaware if they are insured against their pipes and that they should make sure their pipes are insulated properly.

Lloyds TSB have said that if you prepare yourself now it would give you piece of mind, check through your insurance and see if you are covered for the freezing cold conditions that Britain is facing this winter, before it effects your home.

Source: moneynews

Nationwide and Halifax will not forecast house prices

Nikki — Mon, 22 Dec 2008 18:02:20 +0000

Halifax part of the HBOS group (LON:HBOS) that are merging with Lloyds TSB (LON:LLOY) and Nationwide Britain’s largest building society have announced that they will not be forecasting the UK property prices, this outlines how difficult it is for predictions to be made at the moment.

Both Nationwide and Halifax usually publish annual house price forecast but we will not see any forecasts for 2009.

However Halifax has blamed the merger with Lloyds TSB as to why they will not be publishing their 2009 house price forecast.

Both banks monthly house price indices have shown declines in 2008, and both Halifax and Nationwide have said they will continue these monthly reports in 2009.

The bank’s decision is backed by the Council of Mortgage Lenders (CML) which have said that they any exercise to predict next year’s property prices would be pointless.

Source: beacon

HBOS announce £8 billion of bad debts ahead of Lloyds merger vote

Nikki — Fri, 12 Dec 2008 12:41:47 +0000

HBOS Plc (LON:HBOS) the troubled bank is just hours before a vote will be announced over its merger with Lloyds TSB (LON:HBOS) have announced its bad debt and other losses have jumped to £8 billion in just two months.

Shares in HBOS plunged over 19 percent on the profit warning from the UK bank, the ailing economy sent October and November retail and corporate debts through the roof.

In a statement HBOS talked of how the increasing unemployment and the global market crisis will be the biggest challenge to the credit environment, with analysts reporting that corporate loans are being badly affected by the deteriorating economy.

HBOS is in desperate need of the Lloyds takeover and it is widely expected that the vote today will be in favour of the deal.

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Lloyds TSB and HBOS Merger: Up to 40,000 could lose their jobs

Nikki — Wed, 10 Dec 2008 16:59:04 +0000

Lloyds TSB (LON:LLOY) takeover of HBOS (LON:HBOS) could see 600 branches close and up to 40,000 jobs as the two banks merge to create the a UK superbank.

As the recession looms over the industry and the Lloyds and HBOS deal completes Mid-January the new merged bank titled Lloyds Banking Group will have to resume dividends, lift capital ratio and begin to shrink its balance sheet. Investors in Lloyds will be wanting a quick return to core strength after the government closes the deal between the two banks.

HBOS warned its investors if the merger does not go ahead the bank could end up being full nationalized so it is likely they will pass the deal on Friday at the shareholders meeting, Lloyds TSB shareholders already voted 96 percent in favour for the deal to go ahead weeks ago.

Source: Reuters

Lloyds TSB Chief Economist: Housing market firmer than we are led to believe

Nikki — Mon, 08 Dec 2008 15:58:14 +0000

Lloyds TSB (LON:LLOY) chief Economist, Trevor Williams makes reference to the official house price figures that will be released on Tuesday, saying that the house price decline may not be as bad as we are led to believe.

With both Nationwide and Halifax reporting house prices falling around 12.4 percent in the year leading up to September, Government figures suggested that the price decline is not as bad, stating the national house price has fallen 5.1 percent, showing us that both Nationwide and Halifax are way out with their figures.

We all know that house prices have declined but it’s the government figures we should all be taking note of as the figures measure the final sale price whereas Nationwide and Halifax figures are based on mortgage approvals.

Trevor Williams suggests that guzumping may be in action, whereas the seller accepts a lower offer, the mortgage is then approved on that offer, then the initial offer is declined or never activated. It’s also worth noting that one in five mortgage approvals never get to final completion stage.

In October Nationwide reported that the average national house price was £158,872 with Halifax just slightly above at £167,934, however the government have put the National average house price at £208,583.

Source: thisismoney