67% think base rate will rise by next year
Contrary to Ernst and Young’s ITEM forecast which suggests that the base rate will remain on hold until the end of 2013, former Bank of England deputy-governor, Sir John Gieve has warned that interest rates will have to rise earlier and more sharply than expected to keep inflation under control.
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Barclays cuts rates on loan to value mortgages
Barclays is reducing rates on its Woolwich mortgages (80 per cent LTV) by up to 0.21 per centage points from Thursday 29th July and at the same time introducing a drop lock facility for all new mortgage customers.
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Lenders try to tempt borrowers off record low variable deals
While borrowers are benefitting from the lowest rates in seven years, lenders are continuing to take record margins.
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Bank of England maintains Bank Rate at 0.5%The Bank of England’s Monetary Policy Committee today voted to maintain the official interest rate on hold at 0.5%.
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Most don’t know the impact of a rate rise on mortgageThree quarters (74%) of mortgage holders don’t know how an interest rate rise of one percentage point could affect their monthly outgoings, according to research published today by the Consumer Financial Education Body (CFEB).
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Welsh expect interest rates to rise this year
The majority of people in Wales believe that the Bank of England base rate will rise before 2010 is out.
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Increase in interest rate rise expectations
Interest rate hawks are becoming more prevalent with 14% of mortgage advisors no anticipating an interest rate rise in the next three months.
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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.
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%.
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.
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.
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