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Market backtracks following death of David Walton

David Walton an external member of the Bank of England’s Monetary Policy Committee died yesterday, aged 43, following a short illness.

Walton was the only member in favour of an interest rate increase in the last two Monetary Policy Committee meetings.

His death has caused the financial markets to back track, sending short sterling interest rate futures up and the pound down against both the euro and the dollar.

Mervyn King, governor of the Bank of England, says: “All our thoughts are with David’s wife, his young children and his parents.

“David inspired the respect and affection of all his colleagues in the Bank, and today’s news has come as a shock to us all, as it will to those who knew him in the City, where he made his reputation as an economist.”


We use SPASU to help our most vulnerable clients

From Bill Armstrong Simon Burgess (Mortgage Strategy Letters June 19) has an imperfect overview of the accident, sickness and unemployment cover market. All he can do is rant on about the evils of single premium cover. There is a place in the market for SPASU and the fact he does not market it leads me […]

CHL applications rise by 34%

CHL Mortgages reports a 34% rise in applications following its decision to lend on registered houses of multiple occupation and introduce an 85% LTV on new-build flats.


Some pundits say buy-to-let investors are restricting first-time buyers’ access to the housing market but this argument is too simplistic and several other factors should be taken into account, says Mira Butterworth

Take the plunge

Brokers can either take the easy way out and ignore self-cert business or they can take the plunge and participate in this profitable sector, says Gurnam Bhuller


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