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Base rate cut may not be reflected in deals

The Building Societies Association warns that last week’s 0.25% base rate cut may not be passed onto borrowers immediately.

Adrian Coles, director-general of the BSA, says the cut will be good news for first-time buyers and borrowers coming off fixed rate deals.

But he adds: “The Monetary Policy Committee’s decision may not be reflected in changes to LIBOR rates.

“As a result the reduction may not immediately be seen in the products on offer.” Stuart Law, chief executive of Assetz, says: “I don’t think the base rate cut was big enough. A significant reduction of 0.5% was needed to have any impact on the market.”

Brian Murphy, head of lending at Mortgage Advice Bureau, says the cut was a necessary response to worries about economic growth.


Brokers embrace Blemain changes

Brokers have embraced Blemain Finance’s minimum standard requirements for service on packaged cases issued at the end of 2007, says the firm.

Dear Delia…

My client is looking to buy a house in need of renovation for £250,000. He wants the deal to be done as quickly as possible to secure the best terms from the seller and intends to refurbish it. If improved, he knows it will be worth considerably more than it is now. He anticipates a selling price of £330,000 for the improved property. What deals should he consider for buying and then improving the property?

Nationwide pulls fixed deals

Nationwide has withdrawn various fixed deals and raised rates on others by up to 0.32%.

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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