All Entries Tagged With: "Lloyds TSB"
Lloyds TSB launches Tracker Mortgage at 4.89 percent
Although Lloyds TSB (LON:LLOY) did pass on the full 1.5 percent base rate to its existing customers, if you are a new customer looking for a tracker mortgage then you will not benefit from the full 1.5 percent cut, Lloyds TSB has followed the lead of Abbey and hiked up the amount it charges above [...]
Abbey offers new tracker mortgage deals, Halifax and Lloyds to follow
Abbey who are owned by Spanish banking giant Santander will be offering from tomorrow new tracker deals, being the first to re-launch mortgage products that are pegged to the base rate. Almost every bank and building society including Abbey withdrew their Tracker deals after the Bank of England cut the base interest rate by 1.5 [...]
Lloyds TSB, HSBC, HBOS: Shareholders Update
HBOS have shunned the offer from Sir George Mathewson ex Chief Executive of Royal Bank of Scotland (RBS) and Sir Peter Burt ex Chief Executive of Bank of Scotland to take control of HBOS and to keep the mortgage lender independent.
HBOS are in the middle of a take-over from Lloyds TSB who already own mortgage [...]
HBOS and Lloyds TSB merger in jeopardy as Bank of China look to bid
Bank of China is looking to place a bid for HBOS the UK lender who owns Halifax and Bank of Scotland according to BBC business editor Robert Peston.
HBOS who are in the process of merging with Lloyds TSB rejected an offer from the former chief executive of the Royal Bank of Scotland, Sir George Mathewson [...]
No interest on your Mortgage deal? Lloyds TSB could lead the way
If you hold a Tracker Mortgage with Cheltenham & Gloucester who are owned by Lloyds TSB at 1.01 percent below the Bank of England base rate, then you could be seeing a zero interest rate on your mortgage repayments if the Bank of England Monetary Policy Committee cuts the base interest rate to 1 percent [...]
Fixed Mortgage Update: Lloyds TSB & C&G slash rates
Lloyds TSB and mortgage division Cheltenham & Gloucester are slashing the interest rate on their fixed rate products following the Bank of England Base Rate cut on Thursday, the new rates will be available to new customers seeking fixed rate mortgage deals.
Both Lloyds TSB and C&G passed on the full 1.5 percent interest rate cut [...]
Former Chief Executive of RBS hits out at HBOS
Former Royal Bank of Scotland (RBS) Chief Executive Sir George Mathewson and former Chief Executive of Bank of Scotland Sir Peter Burt have both attacked the HBOS board of Directors insisting that CEO Andy Hornby and Chairman Andy Hornby should hand in the resignations, the HBOS board have rejected the bold move.
Sir George who stepped [...]
Abbey joins Lloyds TSB and passes full 1.5 percent rate cut: Update
Last night Abbey agreed that they would pass on the full 1.5 percent interest rate cut to their customers, making them the second bank to follow the move from Bank of England Monetary Policy Committee yesterday in an attempt to fight off the recession and improve our ailing economy.
Abbey who are owned by Spanish bank [...]
RBS, HSBC, Nationwide and Abbey: Interest rate cut update
As homeowners wait in anticipation to see if their bank will pass on the Bank of England interest rate cut we see no movement from Royal Bank of Scotland (RBS) or HSBC who are the UKs biggest lender, Abbey who are the second biggest lender in the UK have not announced any cuts and neither [...]
Lloyds TSB and C&G will pass on the full 1.5 percent cut
Lloyds TSB and its lending arm Cheltenham & Gloucester said they will pass on the full 1.5 percent cut in interest rate made by the Bank of England today, cutting its Standard Variable Rate (SVR) from 6.5 percent down to 5 percent this change will be effective from December 1. Those on fixed mortgage rate [...]
Lloyds TSB to shed 20,000 employees
When Lloyds TSB takes over Halifax Bank of Scotland (HBOS) up to 20,000 employees may well have to go as well as hundreds of branches. The new “super bank” will save £1.5 billion a year from cost-cutting synergies according to Lloyds, something that has outraged the unions.
When the takeover was announced in September Lloyds TSB [...]
Lloyds TSB and HBOS: government could get 43 percent share
Lloyds TSB and HBOS confirmed their merger today and announced plans to raise a total of £17 billion in new capital by selling 2.6 million new shares at 173.3p each to existing shareholders.
Lloyds said that if the current shareholders do not take up the offer of the shares then the government will buy the rest [...]
Lloyds TSB: Switching to interest-only mortgages stopped
October 30. Lloyds TSB who own Cheltenham & Gloucester will not allow anyone with less than 25 percent equity in their home to switch to pay just the interest only on their mortgages, the rules were brought in earlier this week.
Many people switch to an interest-only deal to reduce their payments in times like now [...]
Lloyds TSB deal to save HBOS will complete in January
Lloyds TSB has said they expect to complete the deal with HBOS and capital raising by January and the shareholders will beable to vote on both by the third week in November. Lloyd’s have said that the shareholder should get a circular in the first week in November regarding the HBOS deal and capital raising. [...]
RBS, HBOS, Lloyds TSB told to help small Businesses
The new Business Secretary Lord Mandelson along with Alistair Darling, the Chancellor, will meet with British Bank chiefs today in a bid to help small businesses through a recession. The banks thought to be attending the meeting are Royal Bank of Scotland, HBOS who own Halifax and bank of Scotland and Lloyds TSB the meeting [...]