HALIFAX COULD FACE action from the City watchdog after admitting the details of some 13,000 mortgage customers were stolen from a member of staff last week, according to the Guardian .
The bank last night began writing to the customers who had their details stolen after reporting the matter to the Financial Services Authority (FSA) and the police.
The data was contained in a briefcase stolen from an employee's locked car late on Wednesday evening.
A spokesman for Halifax said: "We are very sorry for any inconvenience or upset we may have caused our customers. Lessons have been learnt. We are reviewing our procedures as a matter of urgency."
Halifax insisted it felt the information which had been stolen would not be of use to any thief trying to commit financial fraud.
Most of the information stolen from the briefcase contained only mortgage account details and did not have any bank account details, personal identification numbers, passwords or details of financial transactions, says the paper.
FROM TOMORROW, Nationwide will become the first big mortgage lender to offer 25-year fixed-rate mortgages, reports the Times.
Britain’s third-largest lender has set aside a £50m tranche of cash to back its 25-year deal pegged at rates starting at 5.49%.
Nationwide is the biggest mortgage lender to offer such a deal since the government tried three years ago to encourage more lenders to offer European and American-style long-term home loans.
Stuart Bernau, the executive director at Nationwide, said the difficulty was in determining how to hedge such loans, but added: “The shape of the yield curve at the moment means that if this deal is ever going to be attractive, now is the time.”
STANDARD LIFE Bank has paid a maiden dividend of £40m to its parent group after profits last year more than doubled, says the Scotsman.
Although the Edinburgh insurer's banking operation was covered briefly in last week's annual results statement, full details of the division's financial performance were disclosed yesterday in a separate stock exchange announcement.
The figures reveal the telephone and internet mortgage bank generated an underlying profit of £38m in 2006, against £18m the year before, on the back of "a substantial increase in income and cost control".
That was despite gross lending and mortgages under management remaining virtually flat at £3bn and £10.4bn respectively. Total income rose to £102.4m from £87.7m.
A LEADING banker earned more than £22m last year, making him one of the largest beneficiaries of last year's record City bonuses, says the Daily Telegraph.
Bob Diamond, the head of Barclays' investment banking division, made £22m in cash bonuses and share awards to add to his £250,000 annual salary.
The package means he is the best paid executive of a British listed company and puts Barclays chief John Varley's £3.2m in the shade.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Emily Perryman on 020 7034 2680 or email [email protected].IFAonline
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