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A leading business organisation has highlighted the difficulty of funding small businesses in today’s financial climate.
The Forum of Private Business was presenting its views on the Business Growth Fund. That’s the new £2.5 billion initiative which is part of the deal struck between the government and the major banks last autumn. The fund is aimed at so-called medium sized businesses, turning over between £10million and £100 million.
Category: Current Market News Tags: Business, Commercial, Headlines, Mortgage, Remortgage
23-May-2011
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A flurry of bank holidays and the Royal Wedding are being blamed for a decline in mortgage lending last month.
According to the Council of Mortgage Lenders (CML), gross mortgage lending fell to an estimated £9.8 billion in April, after rising to £11.4 billion in March.
Category: Current Market News Tags: Companies, Economy, Headlines, Remortgage
20-May-2011
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Mortgage borrowers could benefit from low interest rates for some time to come.
That seems to be the message of a number of developments this week – despite a surprise leap in inflation to 4.5% in April. Most recently, minutes of the MPC – the Bank of England committee responsible for setting the Bank’s base rate – show that members were again divided 6-3 on whether to raise interest rates.
Category: Mortgage Rate News Tags: Economy, Mortgage Rates, Remortgage
20-May-2011
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A body representing lenders has given a sober assessment of today’s mortgage market in a briefing to housing minister Grant Shapps.
The Council of Mortgage Lenders (CML) was focusing on the problems of first time buyers in particular. But the organisation argues that this issue simply reflects conditions in the market as a whole.
Category: Current Market News Tags: Economy, House Prices, Mortgage Rates
18-May-2011
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Inflation has risen sharply, and that is bound to cause renewed speculation about a rise in interest rates.
The Consumer Prices Index rose to 4.5% in April – more than double the government target – having dropped back to 4% in March. The high price of energy and of imported commodities such as foodstuffs helped fuel the increase.
Category: Mortgage Rate News Tags: Business, Economy, Mortgage Rates, Remortgage
17-May-2011
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Lower mortgage payments are a lifeline for many as consumers face higher household bills.
That’s the implication of a number of recent surveys, with latest research from Halifax suggesting that mortgage payments have fallen by a fifth since 2008. While mortgage borrowers have seen their annual payment drop by £956 on average, a host of other bills have risen.
Category: Finance News Tags: Business, Economy, Industry, Mortgage Rates
16-May-2011
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A flurry of up-market house sales in London and the South East has pushed up average house prices.
That’s according to the trusted LSL Property Services/Acadametrics Index, which claims to take into account every transaction in England and Wales.
Category: Current Market News Tags: Economy, Headlines, Housing Market, Remortgage
16-May-2011
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Could it be time to consolidate your credit and store card debt?
While Bank of England base rate remains at 0.5%, financial site Moneyfacts reckons that average credit card interest rates are now at their highest for 13 years at over 19% – while the Bank itself lists the typical rate at 16.73%.
Category: Current Market News Tags: Companies, Consolidate Debt, Headlines, Remortgage
16-May-2011
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The first three months of 2011 saw something of a remortgaging revival, according to figures from the Council of Mortgage Lenders (CML).
Remortgaging accounted for 37% of all lending, up from 30% in the last quarter of 2010. March saw a significant boost for both remortgaging and lending for house purchase – with 33,900 and 37,800 new loans respectively.
Category: Mortgage Rate News Tags: Headlines, House Prices, Mortgage Rates, Remortgage
13-May-2011
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Many homeowners will be watching the housing market carefully this month as they debate whether now is a good time to move or to borrow additional funds.
The latest survey from RICS (Royal Institute of Chartered Surveyors) headlines a “broad based improvement” in the property market, with signs of increased activity. More surveyors reported a rise in new instructions in April, while viewings, sales and newly agreed sales all picked up – albeit modestly.
Category: Current Market News Tags: Consolidate Debt, Housing Market, Industry, Remortgage
12-May-2011
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