Base Rate Drops to 1.5%… we’re almost there
Te Bank of England has dropped the base rate by another .5% to the lowest point in 315 years. This is also the lowest it’s been since the Bank of England inception in 1694.
As with the previous 4 decreases since October, there are mixed reactions. Steve Radley, chief economist of manufacturers’ association EEF says: “Whilst [...]
Mortgage Lenders Not Dropping Rates?!
It has come to light that first time buyers and people who have recently remortgaged are still being charged up to and above 6% interest despite the recent base rate drops. That is now 3 times the official Bank of England interest rate!
The vast majority of deals reflecting the base rate changes require a minimum [...]
Here We Go Again! Base Rate Drops to 2.0%!
The Bank of England has done it again. Following on the .5% drop in October and the 1.5% drop in November, they have decreased the rate again by 1%. This is great news for borrowers but not the best for savers…
Borrowers with tracker or variable rate mortgages will probably see their monthly payments decrease to [...]
News in the Wake of the Base Rate Cut
Ever since the Bank of England dropped the base rate 1.5%, there has been a plethora of news in the mortgage and finance industry. Here is a quick list of some of the top stories we’ve recently come across:
B&B chair Pym tells MPs buy-to-let market “now closed” - MoneyMarketing
Shareholders approve Lloyds takeover of HBOS - [...]
Interest Rates Drop 1.5%
Wow, didn’t see this one coming, and neither did other industry leaders…
Ben Thompson, mortgages director at Legal & General said:
If you consider that just six months ago Mervyn King was saying that there would be no rate cuts until 2010, the mindset now is completely different.
The size of the cut, the biggest since 1981, [...]