Posts Tagged ‘Headlines’
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
Posted in Current Market News | No Comments »
Monday, June 20th, 2011
Bank of England governor Mervyn King has mounted a strong defence of its low interest rate policy.
In a speech to top City figures at the Mansion House, the newly knighted Sir Mervyn highlighted the role of the record-low Bank rate in keeping the economy afloat since the financial crisis. And he signalled that, with low wage-growth and restricted lending by the banks, inflation was likely to fall back – making damaging rises in rates unnecessary.
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Tags: Consolidate Debt, Headlines, Mortgage Rates, Remortgage
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Monday, May 30th, 2011
A leading business organisation has warned that rises in interest rates are on the way this year.
The British Chambers of Commerce (BCC) predicts that the Bank of England will move to raise rates in August, in an effort to curb inflation. And that’s despite revised economic forecasts, with the BCC becoming the latest in a long line of organisations to downgrade estimates for UK growth in 2011 and 2012.
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Tags: Business, Headlines, Mortgage Rates, Remortgage
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Monday, May 23rd, 2011
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.
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Tags: Business, Commercial, Headlines, Mortgage, Remortgage
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Friday, May 20th, 2011
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.
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Tags: Companies, Economy, Headlines, Remortgage
Posted in Current Market News | No Comments »
Monday, May 16th, 2011
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%.
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Tags: Companies, Consolidate Debt, Headlines, Remortgage
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Friday, May 13th, 2011
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.
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Tags: Headlines, House Prices, Mortgage Rates, Remortgage
Posted in Mortgage Rate News | No Comments »
Wednesday, May 11th, 2011
Is an interest rate rise in the second half of 2011 now more likely?
As ever, Bank of England Governor Mervyn King played his cards close to his chest at the press conference following the release of the Bank’s latest Inflation Report. He repeatedly used words like “uncertain” and “uncertainty” to describe the economic course being charted by the UK.
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Tags: Business, Economy, Headlines, Mortgage Rates
Posted in Mortgage Rate News | No Comments »
Monday, May 9th, 2011
It looks like there will be more opportunities for borrowers to find cheaper mortgage deals after recent decisions by the Bank of England.
Pressure on the Bank’s Monetary Policy Committee to raise interest rates has abated after inflation dropped back in March, while disappointing economic data from manufacturing and the high street has convinced many that an early rise in rates would put the recovery at risk.
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Tags: Economy, Headlines, Mortgage Rates, Remortgage
Posted in Mortgage Rate News | 1 Comment »
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