Barclays
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Latest property news
Banks criticised for leaving businesses ‘high and dry’ as branch closures accelerate
The number of local bank branches has halved over the past 25 years to just 8,000 and is set to halve again by 2026, according to the Federation of Small Businesses (FSB), which also says banks are failing to help businesses find alternative banking services. Barclays, for example, announced two years ago that 400 branches were to shut, and currently has 130 either closing are about to close. Many of its competitors are following suit. These worrying developments are revealed within the FSB’s ‘Locked Out’ report published today, which reveals how particularly in rural towns and villages many businesses are left “high and dry” when a bank branch closes. The FSB’s report says many banks are not doing enough to help businesses find alternative ways to deposit cash and cheques, as the recently-introduced Access to Banking Protocol requires them to. Implemented in March last year, the protocol is a voluntary but industry-wide agreement in partnership with government and business interest groups to ensure facilities remain “close at hand” when braches close, and “rebuild trust in the sector”. But the FSB believes that many of the major banks are not sticking to the spirit of the agreement and that the protocol needs strengthening “to ensure banks…
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Latest property news
Conveyancing fraud – cases are on the rise
Fraudsters hacked emails to seller’s solicitor and stole £340,000 proceeds of a property sale.
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Latest property news
Mortgages for grannies and grandads!
Following Barclays’ launching the 100 per cent mortgage, stirring up much debate concerning the bank of mum and dad, the Halifax announced that they are increasing the mortgage lending age limit from 75 to 80. A 55-year-old person will be able to take out a 25 year mortgage and have until their 80th birthday to repay the loan. Halifax said, “As demographics and working habits continue to change, we continually review our products and policies to ensure they reflect the evolving needs of our customers, including those who wish to continue working longer.” Matthew Graves, Sales Director at Enness Private Clients, said, “Thankfully, attitudes to older borrowers in the mortgages market are changing. “At Enness we once had an 88-year-old client who, in spite of his substantial assets, income and impeccable business records, had been rejected by every lender he approached; we were only able to secure him a mortgage by speaking directly to the underwriters. Someone’s age is not necessarily an indication of how credible a borrower they are and, although this latest development is a step in the right direction, rigid upper age limits should be regularly reviewed.” In the same day, Barclays launched their new 100 per…
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