Bank of England accused of ‘penalising the young' by keeping mortgage rates high [Yahoo! Finance]
NatWest Group plc American Depositary Shares (NWG)
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Source: Yahoo! Finance
Rob Perrins, chief executive of Berkeley Group, said the Bank has “a moral duty” to cut rules that require lenders offering riskier mortgages to hold a certain amount of capital on their balance sheet. Mr Perrins added: “Whoever wins the next election will need to look at it. I think the Bank has been overly focused on stability for a long period of time. It's a balance and you do need to have some risk in the economy. The banks are incredibly well capitalised.” Higher capital requirements for higher risk loans are one of the reasons why lenders charge higher interest rates on mortgages to buyers with smaller deposits. Mr Perrins said: “It is a societal issue that the Bank of England needs to move away from stability to growth. I think they have a moral duty to do it.” The average rate on a two-year fixed rate mortgage for a buyer taking out a 95pc mortgage on Wednesday was 6.25pc, compared to 5.47pc for a buyer taking out a 60pc mortgage, according to Moneyfacts. This mean
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News
- JPMorgan (JPM) & Others to Pay $46M to End Rate Swaps Trial [Yahoo! Finance]Yahoo! Finance
- German Banks Fall Out of Top Bund Dealer Rankings for First Time [Yahoo! Finance]Yahoo! Finance
- German Banks Fall Out of Top Bund Dealer Rankings for First Time [BNN Bloomberg (Canada)]BNN Bloomberg
- NatWest (NWG) Signs Agreement to Acquire Sainsbury's Bank [Yahoo! Finance]Yahoo! Finance
- NatWest buys Sainsbury's banking arm, adding £2.5B asset base [Seeking Alpha]Seeking Alpha
NWG
Sec Filings
- 6/28/24 - Form 6-K
- 6/28/24 - Form 6-K
- 6/27/24 - Form 6-K
- NWG's page on the SEC website