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Inflation rises to 4.7%

Inflation has risen to 4.7% in August from 4.4% in July partially due to mortgage arrangement fees.

The Consumer Prices Index has risen significantly as a result of mortgage arrangement fees which have fallen by less than last year.

Other pressures pushing up inflation include household services like electricity and gas bills and a rise in the cost of food – specifically breakfast cereal, pizzas, meat and fruit.

But the average price of petrol has fallen by 5.5p to 113.3p from August last year.

The Retail Price Index inflation fell to 4.8% from 5% in July.

There was a large downward influence on RPI from housing as a result of rising mortgage interest payments and house price depreciation.

Mortgage interest payments and house price depreciation are both excluded from CPI calculations.


Principality sees pre-tax profit of £8.4m

Principality has revealed a pre-tax profit of £8.4m for the six months to 30 June 2008, compared to £16.2m over the same period last year.

Landlords call for rent-back rules

Nearly two-thirds of landlords polled by research firm BDRC believe sale-and-rent-back should be regulated. The survey of 500 landlords also found that 58% worry that such schemes will be misused by clients.

Darling has over-egged the pudding

Chancellor Alistair Darling’s recent media outburst in which he stated that the UK faces the worst economic outlook in 60 years was nonsense. In the 1940s Britons faced petrol, clothing and food rationing and in the 1970s we suffered the three-day week and inflation hit more than 25%.

Your shout

My Client is likely to need bridging finance next month for about four weeks as he must buy his new home before the sale of his existing property is completed. Should I advise him against this in case the sale of his home falls through and he is stuck with an expensive bridging loan? If it goes wrong he will blame me but if he wants to go ahead, which are the best lenders to approach and what are the pitfalls?

In Focus Ebola cover - thumbnail

White paper — In Focus: Ebola Virus Disease

Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.


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