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BUDGET 2008: Darling ups borrowing forecast to £43bn

Darling has increased his borrowing forecast to £43bn for 2008-2009.

The Chancellor says borrowing has dropped 1.25 since 1997 and that debt has dropped by 36.6% of gross domestic product since 1997.

He says government borrowing will not breach 40% of the national GDP.


S&P lowers A&L’s long-term credit but outlook is stable

Standard & Poor’s says although it’s lowered Alliance & Leicester’s long-term credit rating, changes to the UK bank’s funding arrangements mean its off CreditWatch and the outlook is stable. Its long-term counterparty credit rating has been lowered by S&P from A+ to A.But the bank has been removed from the credit rating agency’s CreditWatch where […]

BUDGET 2008: NLA welcomes stable budget

The National Landlords Association says it is pleased that stability and strength are cornerstones of the 2008 Budget.David Salusbury, chairman of the NLA, says: “Landlords who have acquired property in recent years who are looking to sell will be pleased to hear that the planned changes to the Capital Gains Tax regime go ahead next […]

January market was subdued

The January mortgage market was dominated by subdued activity, low LTVs and low income multiples, according to John Charcol. The broker says 52% of borrowers took out fixed rates in February – high compared with the recent norm of around 30%. Remortgages for buy-to-let deals were also up in February compared with January but the […]

AToM makes 48-hour fees pledge

All Types of Mortgages has guaranteed to pay proc fees to brokers within 48 hours of confirming mortgage completions.AToM will make twice-weekly BACS payments to ensure it can meet its promise.Richard Hearn, managing director of AToM, says: “That we are able to do this demonstrates the strength of our proposition, even in these trying times.“Brokers […]


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