Stockport's Vernon Building Society has signed up to the new Mortgage Charter, launched following last week's interest rate rise to protect borrowers. The Charter was announced on 23rd Friday by Chancellor Jeremy Hunt following discussions with major lenders and the Financial Conduct Authority … [Read more...]
News for: Finance
The Pensions Regulator: ‘We could be knocking on any employer’s door’
Employers in Stockport are to be targeted with spot-check inspections as The Pensions Regulator looks to protect the retirement savings of workers in the borough. Inspection teams from The Pensions Regulator (TPR) have been visiting businesses across Greater Manchester, with more visits set to … [Read more...]
Energy intensive businesses urged to claim discount on energy bills
Businesses in the most energy intensive industries have one month remaining to claim government support through the Energy Bills Discount Scheme. Companies have until 25th July to claim the discount, which could reduce energy bills by as much as a fifth, that will apply through to April 2024. … [Read more...]
Support measures announced for mortgage holders following interest rate rise
Following the Bank of England's decision to raise its base interest rate to 5%, Chancellor of the Exchequer Jeremy Hunt has announced new support measures for homeowners struggling with rising mortgage repayments. The Chancellor met with the UK's main lenders and the Financial Conduct Authority … [Read more...]
Bank of England raises interest rates further to 5%
The Bank of England's Monetary Policy Committee (MPC) has agreed its 13th consecutive rise in its base interest rates, which now stand at 5% The 0.5 percentage point increase brings the bank's base rate to its highest level since early 2008, prior to the global financial crisis that ushered in … [Read more...]
Funding awarded for new ideas to improve Greater Manchester’s foundational economy
40 projects to improve ways of working in Greater Manchester's foundational economy have been awarded a combined total of £400,000 from Greater Manchester Combined Authority (GMCA). Each project has been awarded a £10,000 grant from GMCA's Foundational Economy Innovation Fund, launched in Autumn … [Read more...]
North-west house prices up 4.8% on 2022
House prices in the North-west rose 4.8% in the 12 months to April 2023, according to the latest UK House Price Index published by the Office of National Statistics (ONS). The region has seen the second fastest house price growth in the UK, behind only the North-east (5.5% growth in the same … [Read more...]
£660m Northern Powerhouse Investment Fund II preparing for 2024 launch
The British Business Bank is preparing to launch a second Northern Powerhouse Investment Fund totalling £660 million to support the region's SMEs. Ahead of the planned launch in 2024, The British Business Bank is also inviting proposals from potential fund managers to operate the Northern … [Read more...]
Incomes remain outpaced by inflation, finds ONS, despite 7% annual rise in average pay
Average incomes have risen by 7% on last May but payrises remain outpaced by inflation, according to the latest earnings data released by the Office of National Statistics (ONS). Based on real-time earnings of PAYE taxpayers, estimates for May 2023 indicate that median monthly pay in the UK … [Read more...]
Together provides quarter of a million donation to homelessness charity
Cheadle-based specialist lender Together, has made a donation of £250,000 to support hundreds of young people into safe and secure housing. The donation will be directed to Centrepoint’s Independent Living Programme, which provides high quality, affordable housing for young people in order to … [Read more...]
Together announces promotion in Commercial Finance division
Cheadle-based specialist lender, Together, has announced the promotion of Michelle Walsh to Head of Intermediary Sales in the firm's Commercial Finance division. Michelle will manage the business development team across all commercial finance intermediaries, in addition to driving Together’s … [Read more...]
Cheadle lender upsizes securitisation to £825 million
Cheadle based specialist lender, Together, has announced it has successfully increased its revolving Lakeside securitisation programme (LABS) from £700 million to £825 million. The LABS facility finances the Together's bridging loans and first launched in 2015 as a £225 million revolving … [Read more...]
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