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MPC torn between boom and bubble, say Lib Dems

The Liberal Democrats have described the Monetary Policy Committee as torn between a fear of extending the credit boom and causing the credit bubble to burst.

Commenting on yesterday&#39s Monetary Policy Committee minutes Vince Cable MP, Liberal Democrat shadow chancellor, says: “The minutes show that the Bank of England is concerned about the rise in debt and is contemplating interest rate increases.

“Some at the Bank believe that levels of debt are making households increasingly vulnerable.

“Gordon Brown must urgently address the failures that have allowed banks to lend irresponsibly and fuel unsustainable levels of debt.”

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2003 boom time for most EU property growth, reveals RCIS

The Royal Institute of Chartered Surveyors has revealed that more European countries experienced double-digit house price inflation last year than in the previous year. The booming markets in Spain and the UK were joined by France and Ireland. However, none are expected to keep up such rates of house price increase in 2004. But at […]

Charcol launches buy-to-let lifetime tracker

Charcol has launched a buy-to-let lifetime tracker mortgage pegged at 0.85% above base rate – giving a current pay rate of 4.85%. The mortgage is available up to 75% LTV and offers 0.5% cashback to help buy-to-let investors with purchase or remortgage costs. Ray Boulger, senior technical manager at Charcol, says: “This deal offers superb […]

A&L streamlines online application system

Alliance & Leicester has streamlined its online application system to simplify and speed up the mortgage application process for mortgage intermediaries. From April 20, A&L says its paper-based application, used in conjunction with online submissions, will be replaced by a more simple customer declaration document which needs to be returned prior to completion. Merhdad Yousefi, […]

Mortgage Sense offers £99 valuation fees on Kensington deals

Sub-prime packager Mortgage Sense has unveiled an offer of £99 valuation fees for all valuations carried out up to £100,000, and £200 for valuations between £100,000 and £250,000 on any Kensington Mortgages cases submitted for a limited period. A 1% procuration fee will be payable on all Kensington applications &#45 except Kensington&#39s very low adverse […]

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