Rightmove reveals underlying profit of £41m

Rightmove has reported its underlying profit for 2008 grew by 33% from £30.7m to £41m.

Rumours of internal turmoil at Cobalt

Rumours abound that serious cracks are beginning to appear at London-based mortgage broker Cobalt Capital.

Alliance & Leicester reduces rates

Alliance & Leicester is reducing its rates by up to 0.2% and the fees by £300 on its two, three and five-year fixed rates from today.

Goldsmith Williams offers HIP incentive

Goldsmith Williams, the direct conveyancing firm is launching a special scheme which will enable homeowners to cut the cost of a Home Information Packs by up to £100, driving down the price to £99.

Orbiter offers help to Encore users

Orbiter has invited the Encore adviser users currently being transferred to Mortgage Brain to switching to their free sourcing engine.

Enterprise offers the EDGE for free

Enterprise Group, the provider of the EDGE search and apply online mortgage system, is offering UK brokers, including those affected by the withdrawal of Encore, its whole of market system for free.

Shares in Lloyds Banking Group fall 15%

Shares in Lloyds Banking Group are taking a hit this morning as talks continue over the value of assets to be placed in the Treasury’s Asset Protection Scheme.

Lloyds sees 80% fall in profits

Lloyds Banking Group says that profits before tax fell 80% from £4bn in 2007 to £807m in 2008 and warns that the switchover from single premium PPI to a monthly product will hit revenues in 2009.

Regulation of HBOS was wrong admits FSA

Lord Adair Turner, chairman of the Financial Services Authority, says that in retrospect the supervision of banks like HBOS was wrong.

Norwich & Peterborough profits down by around 76%

Norwich & Peterborough’s pre-tax profits for 2008 were £5.9m, after a £5.5m reduction for its Financial Services Compensation Scheme levy, compared with £24.3m profits for 2007.

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