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Fixed rate is worth more to borrowers

Some 34% of mortgage holders would be willing to pay a higher monthly amount for the security of a fixed rate, research from Legal & General Mortgages shows.

A survey by the firm reveals that 55% of respondents on a variable rate were happy to continue paying their current monthly amount, while a further 11% were unsure.

Of those willing to pay more, 30% were willing to pay an extra £26 to £50 per month, 24% an extra £1 to £25, 18% an extra £100 or more, 13% between £51 and £75 and 6% between £70 and £99.

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The Mortgage Mole

It is all over It appears television funnyman Nick Hancock will not be giving up his day job anytime soon and returning to the world of mortgage broking.

Bank of England keeps rates on hold

The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 0.5% and to maintain the size of the asset purchase programme at its March meeting.

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.