Abstracts » Retail industry

UK: PRICE WAR IMPAIRS HALIFAX MARGINS

Article Abstract:

Halifax revealed on 13 December 2000 that offering more competitive mortgages to 1mn customers was having a damaging impact on margins. The leading UK-based mortgage lender envisaged that the erosion in 2001 could be as much as 10%. Halifax is engaged in a battle involving high-street banks for custom and also revealed that offering 4% interest on its current accounts would lead to a GBu 50mn hit. A further GBu 50mn hit would result from rates on credit cards and new loans.

Sales, profits & dividends, Savings & Loan Assns, Savings Institutions, Mortgages, Savings and loan associations, Halifax Building Society

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UK: RETAIL BANKS SELLING FEWER MORTGAGES

Article Abstract:

The British Bankers Association has revealed that total mortgage lending from major high street banks has dipped by almost 30% over the three months to September 2000 showing that the threat to inflation from the housing market boom has receded.

Labor force information, Brief Article, British Bankers' Association

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