Archive for the ‘Current Market News’ Category
Friday, July 1st, 2011
Divisions at the heart of the UK’s interest rate policy are becoming starker – posing a dilemma for mortgage borrowers.
The split has occurred between members of the Monetary Policy Committee (MPC), which sets the Bank of England’s influential base rate, known as “Bank rate”. On one side are those who say that a rise in rates is needed to tackle high inflation, currently running at 4.5%. They argue that the Bank’s “wait and see” approach risks undermining its credibility – with the result that the public will begin to anticipate higher prices. Higher wage demands could push up prices further, leading to an inflationary spiral.
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Tags: Companies, Economy, Headlines, Mortgage Rates
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Wednesday, June 29th, 2011
A combination of higher taxes, utilities bills and rising prices are eating away at household incomes, according to official figures.
Data from the Office for National Statistics show that families saw the biggest squeeze on their budgets for 30 years as real incomes fell 2.7% in the year to the end of March 2011.
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Tags: Consolidate Debt, House Prices, Housing Market
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Wednesday, June 29th, 2011
There are signs of increased activity in the housing market with a rise in the demand for property, a survey of estate agents suggests.
According to housing information specialist Hometrack, demand went up by 10.6% in June, as the market revived after a sluggish May. Hometrack’s director of research, Richard Donell, said part of the explanation was the willingness of sellers to drop their asking price to secure a buyer.
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Tags: Housing Market, Markets, Remortgage
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Thursday, June 23rd, 2011
Homeowners could benefit from a combination of low interest rates and stable house prices – despite a sluggish performance from the UK economy.
That’s the suggestion after latest signals on rates from the Bank of England, following upbeat news on the housing market from the respected Centre for Economics and Business Research (Cebr).
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Tags: Consolidate Debt, Economy, Markets, Remortgage
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Wednesday, June 22nd, 2011
Standard variable rate mortgages are coming under fire, after consumer watchdog Which? warned of a squeeze on borrowers from higher interest rates.
Standard variable rates (SVRs) are the headline rates which many borrowers shift onto when their original mortgage deal lapses. According to Which? thousands of those on their lender’s SVR could face financial difficulties when interest rates begin to rise.
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Tags: Economy, Mortgage Rates, Remortgage
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Wednesday, June 22nd, 2011
Mortgage lending received a welcome boost in May, according to latest figures.
The Council of Mortgage Lenders (CML), reports that gross lending totalled some £11.3 billion, 12% up from the £10.1 billion lent in April, and just ahead of the level for the same period last year.
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Tags: Economy, Mortgage, Mortgage Rates, Remortgage
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Monday, June 20th, 2011
Soaring rent levels promise good returns for buy-to-let landlords, if figures from LSL Property Services are anything to go by.
According to the residential specialist’s index, average rents in England and Wales rose by 0.5% in May, leaving the typical monthly payment at £696 – 4.4% higher than a year ago. And London saw much bigger increases, with substantial rises too in the North East and East Midlands.
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Tags: Buy To Let, Companies, Economy, First Time Buyer
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Monday, June 20th, 2011
A closely-watched survey has given a downbeat assessment of the state of the housing market outside London.
According to the Royal Institution of Chartered Surveyors (RICS), a growing number of property professionals judged that prices in their area fell during May, while activity levels were subdued.
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Tags: Consolidate Debt, Economy, Housing Market, Remortgage
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Monday, June 20th, 2011
A member of a crucial Bank of England committee has called for an immediate rise in interest rates to curb inflation.
Martin Weale of the Bank’s nine-strong Monetary Policy Committee (MPC) also warned homeowners and businesses to prepare for significant rises in the cost of borrowing over the next two years.
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Tags: Economy, Markets, Mortgage, Remortgage
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Friday, June 10th, 2011
House prices edged up a whisker in May, according to the latest Halifax index.
At what is traditionally a busy time of the year for the housing market, prices rose by just 0.1% on average, to leave the price of a typical property at £160,519.
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Tags: Consolidate Debt, Economy, House Prices, Housing Market, Remortgage
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