Kensington Mortgage Company Limited fined £1.225m

The Financial Services Authority (FSA) has today announced it has fined Kensington Mortgage Company Limited £1.225 million for poor treatment of some customers facing mortgage arrears:

"The firm has agreed to redress customers who were in arrears and charged specific unfair and/or excessive charges. It is estimated that the redress will cost the firm up to £1.066 million...."

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Northern Rock launches new fixed rate bond issue

Northern Rock is launching a new issue of its Fixed Rate Bond:

"Offering a competitive rate for a minimum deposit of £1. The new Fixed Rate Bond (Issue 389) will be available to open from today (Friday, 09 April 2010)..."

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Abbey launch new two-year fixed rate deals

Abbey for Intermediaries has today launched a range of new two year fixed rate mortgages:

"70% LTV, 2 year Fixed rate products from Abbey: Homebuyer and Homebuyer Plus products, 3.59% with a £995 fee. Remortgage product, 3.64% with a £995 fee..."

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TMA offers Abbey semi-exclusive three-year tracker deals

The Mortgage Alliance (TMA) has today announced:

"An offer of semi-exclusive three-year homebuyer and remortgage tracker deals from Abbey for Intermediaries (AfI)..."

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Godiva reduce Buy to Let base rate tracker by 0.50%

Godiva Mortgages announce that today they have:

"Reduced the pay rate on their 2 year Buy to Let base rate tracker by 0.50%. Previously this product was available at +3.85% above base for two years, and has now been slashed to +3.35%..."

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FSA issues £4.2m fines

The Financial Services Authority has fined three firms a total of £4.2m for failing to provide accurate and timely transaction reports to the FSA:

"The three firms are Credit Suisse (£1.75m fine), Getco Europe Limited (£1.4m) and Instinet Europe Limited (£1.05m)..."

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Tory Economic Plan has strength of a house of cards, say Labour

Gordon Brown issued a stark warning to voters that the Tories' economic plan has the strength of a house of cards which would risk the recovery:

“My aim is to secure the recovery and not put it at risk. Yesterday, the OECD reported that the UK is seeing one of the most robust returns to growth in the developed world..."

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