Lloyds Banking Group returns to profit‎

Lloyds Banking Group revealed today:

"In the first quarter of 2010 Llloyds Banking Group returned to profitability on a combined businesses basis due mainly to a significant slowing of impairments in the wholesale business..."

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Debt management firm wound up

The Secretary of State for Business, Innovation & Skills has presented a petition in the High Court to wind up 123 Finance Ltd in the public interest:

"The company, which traded from premises in Bolton, signed up members of the public, who were experiencing severe financial difficulties, to a debt management plan under which it attempted to negotiate a settlement with their creditors in return for a fee..."

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Post Office offer new 90% LTV mortgage product aimed at FTB's

Business Secretary Lord Mandelson today announced a major expansion of the financial services offered by the Post Office:

"The Post Office will offer a new mortgage product with a 90% loan-to-value ratio aimed at first-time buyers. The Post Office will also increase its lending substantially, aiming to double the value of its mortgage book in the financial year 2010/11..."

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Bradford & Bingley announces £196m loss

Bradford & Bingley announced today:

"Group loss before tax for 2009 was £196.0m. This is £71.0m lower than the figure of £267.0m forecast in the Business Plan and £82.0m lower than the comparable loss of £278.0m in 2008..."

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Link Loans return to secured market

Link Loans will be open for business on Thursday 11th March 2010:

"Secured loans lender, Link Loans, has been relaunched with new equity funding from the RBS Special Opportunities Fund, managed by RBS Equity Finance (a division of RBS Asset Management Limited), and new debt funding from RBS Financial Institutions..."

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