Dec 4, 2008
The Bank of England’s Monetary Policy Committee has voted to cut interest rates by 1% to 2.0%, their lowest level since 1951.
A rate cut was expected by many analysts who welcomed the move as something that will help the ailing economy.
The news comes on the day that Halifax announced a drop in house prices of 2.6% in November.
According to its latest survey, that increased the annual rate of house price falls to -14.9%.
House prices fell by 0.9% in August, the second consecutive month where a fall has occurred leaving the average house price at £166,507, Nationwide has said. Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said: “House prices fell by 0.9% month-on-month (m/m) in August, following a decline of 0.5% m/m in July. This is [...]
Lloyds TSB has introduced a new, market leading fixed rate mortgage at 2.94%, the product is available both for house purchase and remortgage for borrowers with a deposit of at least 30%. Product details: 2 year fixed product Available to all Homebuyers and Remortgage customers, including First Time Buyers £1895 product fee 70% maximum loan [...]
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index. The NLA Index dropped from 51 to 47 points between Q1 and Q2 2010. 54 per cent of landlords (57 [...]
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index. The NLA Index dropped from 51 to 47 points between Q1 and Q2 2010. 54 per cent of landlords (57 [...]
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