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 [...]
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, [...]
Interest Rate Cuts - Everybody’s doin’ it…
If they all jumped off a bridge….
The Bank of England, along with 5 other Central banks dropped rates today in an unprecedented move aimed at stablising the faltering global economy. This decision in the UK was not expected until tomorrow, so the .5% drop came as a surprise. The Bank of England rate now sits [...]
Fall in UK House Prices
Many homeowners in the UK are alarmed and concerned at the steady drop in housing prices over the last year, especially in the context of an increasingly insecure economy.
As a house is the most valuable and important asset within a family, which is why many homeowners are concerned this current steep drop in property value [...]