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Bradford & Bingley reacts to Bank of England comments

Gary Verity, managing director of Bradford & Bingley Estate Agents, has reacted to the Bank of England&#39s comments on the UK housing market.

Verity says: “Warnings of price growth slowdown should not set the alarm bells ringing. Although the price hikes of late have been gaining pace, they are patchy and confined to certain hotspot areas.

“The impact of interest rate rises may also have begun to take effect across some parts of the UK. However, we have experienced an encouraging first half to the year with prices holding well. Keen buyers are evident at all levels of the market.”

Verity adds: “The old adage still remains, it is only good quality and realistically priced property that will sell with ease. The gap that exists between the levels of buyer demand and the supply of desirable property in the hottest spots will continue to put upward pressure on prices until equilibrium is found.

“The key to the housing market remaining stable and continuing to grow is buyer demand and affordability. We continue to enjoy historically low interest rates, at a quarter of the level they stood at in the early 1990s. Today, the average household spends considerably less on it&#39s mortgage repayments, than 10 years ago. However, buyers do need to budget carefully, factoring in further rate rises to ensure they do not financially overstretch themselves.”


HBOS welcomes savings regime announcement

HBOS has welcomed yesterday&#39s announcement from the Treasury about a new long-term savings regime for the UK. HBOS believes that a 1.5% annual charge is realistic and will undoubtedly increase the level of competition within the savings industry. More transparency and more competition is good news for customers. It will give a greater number of […]

Mortgage Next offer ARs fee free membership

Mortgage Next is waiving all monthly fees up to Mortgage Day for any intermediary who submits a successful application for appointed representative status. This means that as well as not having to pay any fees, intermediaries will be able to trade under Mortgage Next&#39s MCCB number and PI policy in the period up to October […]

Nationwide unveils fixed rate mortgages

Nationwide yesterday announced details of its fixed rate mortgages. These new rates are available from June 18 and reflect recent movements in the money markets. A two-year fixed rate is available from 5.39%, a five-year fixed rate is available from 5.69%and a five-year fixed rate will be available from 5.79%

IF moves to help savers

Intelligent Finance will now be paying 0.70% more on its DAS and 0.95% more on its mini-cash ISA than at the start of 2003, whilst base rates have risen just 0.5% over the same period. The mini-cash ISA is up to 4.85%, offset mortgage is now 5.7% and tracker is at 4.94%. Grenville Turner, chief […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]


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