The UK government has agreed to sell Northern Rock plc to Virgin Money, nearly four years after nationalising the bank at the height of the financial crisis. The sale, announced on Thursday morning, will raise at least £747m for the Treasury – just half the amount that the UK taxpayer injected into the bank last [...]
As the Telegraph exposes the hidden costs of investing in funds, here are four ways to pay less. 1. Don’t buy direct from a fund manager The golden rule is never to buy directly from the fund management group, which will typically charge you the full initial fee of 5 per cent. Think twice before [...]
A third of all properties for sale have seen their prices reduced amid an uncertain outlook for the housing market, a new survey suggests. The properties have seen their values cut at least once since they were first listed on the market, according to the survey by property website Zoopla. The highest average price reductions [...]
Nearly £13 billion worth of bank notes were destroyed by the Bank of England last year, either by being burned or turned into compost. Figures released by the Bank of England indicate that £12.7 billion worth of notes were destroyed, an increase of 11 per cent. This increase is believed to be fuelled by the [...]
Northern Rock’s so-called ‘bad bank’ made profit from its toxic mortgages in first half of the year while its ‘good bank’ posted a loss. The “bad bank” – Northen Rock (Asset Management) – made a £349.7m profit in the six months to June 30, compared with a £724.2m loss in the same period last year. [...]
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