The Co-operative Bank yesterday announced it would bid for a share of the Royal Bank of Scotland’s (RBS) £775m fund aimed at bolstering competition in the business banking market.
The challenger bank confirmed it would apply for funding from the RBS fund, which was set up as a condition of its £45bn government bailout during the financial crisis.
The bank joins Metro, Starling, TSB, CYBG and Nationwide in signalling intent to bid for a stake of the fund set to be distributed by the Banking Competition Remedies Body. The Co-operative Bank noted that it would target grants of up to £120m to develop its business current accounts and expand its current account and lending services for companies with a turnover below £2m.
It is expected that the first round of awards from the fund could be announced in February.
Latest News
-
Mortgages in arrears down in Q2 but possessions on the rise
-
Remortgage market ‘on the up’ – Twenty7tec
-
Financial Ombudsman Service consults on changing case fee structure
-
34 organisations back GFI’s mortgage lending roadmap
-
GDP grows by 0.3% in June
-
New IFA consolidator Absolute Financial Group launches
Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
Air and the role of later-life lending
Content editor at MoneyAge, Dan McGrath, spoke to the chief executive officer at Air, Will Hale, about the later-life lending industry, the importance of tailored advice and how technology and obligations have shaped the sector.
Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories