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Peer-to-peer lending heads for mainstream after bumper 2014

LONDON - Britain's peer-to-peer lenders provided 1.24 billion pounds of credit during 2014, taking total lending by the industry beyond 2.1 billion pounds, more than double the figure at the end of 2013.


FCA may set deadline for insurance compensation claims 30 Jan 2015

LONDON - Britain's markets watchdog will consider imposing a deadline on customers claiming compensation for the mis-selling of loan insurance, potentially drawing a line under the country's costliest consumer finance scandal.

UK mortgage approvals pick up in December, consumer credit slows 30 Jan 2015

LONDON - British mortgage approvals rose in December for the first time since June, the Bank of England said on Friday, suggesting that a steady slowdown in the number of loans for home purchases could be bottoming out.


BA faces backlash over points changes 29 Jan 2015

LONDON/BERLIN - British Airways is facing a backlash from customers after making changes to the way passengers can earn and spend miles under its Avios frequent flyer programme, with some threatening to switch to rival airlines such as Virgin Atlantic, Ryanair and easyJet.


UK house price growth slows again in January 29 Jan 2015

LONDON - British house price growth slowed on an annual basis for a fifth month in a row in January, further reducing the risk of a bubble in the housing market, figures from mortgage lender Nationwide showed on Thursday.

UK inflation expectations hit 6-year low in January 29 Jan 2015

LONDON - The British public's expectations for inflation in the next 12 months fell to their lowest level in six years in January, while longer-term inflation expectations hit a record low, according to a survey on Tuesday.

UK's banks pay out less than half of swaps mis-selling pot 29 Jan 2015

LONDON - Britain's banks have paid out less than half of the 4.4 billion pounds set aside to cover the mis-selling of complex interest rate hedging products, according to data from the financial regulator.

British retail fund assets rise to record 834 billion pounds in 2014 28 Jan 2015

LONDON - Assets managed by British retail funds rose to a record 834 billion pounds at the end 2014 from 771 billion pounds a year ago, the Investment Association said on Wednesday.

Bank of England's Haldane says no rush to raise rates 28 Jan 2015

LONDON - The Bank of England is in no rush to hike interest rates and when it does, the increase could be as slow as half a percentage point a year, the central bank's chief economist Andy Haldane said in an interview published on Wednesday.


UK banks approve fewest mortgages since April 2013 27 Jan 2015

LONDON - British banks approved 35,667 mortgages for house purchase in December, the lowest number since April 2013, as the housing market continued to slow, the British Bankers' Association said on Tuesday.

L&G, Dutch fund PGGM make maiden London office investment

LONDON - Legal & General Capital and Dutch pension fund PGGM have formed a joint venture to invest in central London offices and have completed their first deal, L&G said on Wednesday.

UK pension funds launch 500 million pound infrastructure venture

LONDON - The Greater Manchester Pension Fund and London Pensions Fund Authority said they will jointly invest up to 500 million pounds in UK infrastructure projects.

Post Office creates Money brand to bolster growth aims

LONDON - Britain's Post Office said it would bring all its financial services under one brand as part of plans to become one of the UK's biggest financial services providers by 2020, laying down a challenge to the country's incumbent banks.

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