HBOS, the largest mortgage lender in the UK, says its profits have fallen 4% in 2007, partially as a result of the increased costs of borrowing funds for mortgages.
The news comes as Hector Sants, chief executive of the FSA, warned that banks may never again be able to lend money as cheaply as they have in recent years due to higher costs in the wholesale markets....
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
