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Inflation turns negative

For the first time since March 1960, annual inflation measured by the Retail Prices Index – which includes housing costs such as mortgage interest payments and council tax – fell below zero to -0.4%.

While the Consumer Prices Index annual inflation – the government’s target measure – fell to 2.9% in March, down from 3.2% in February.

The largest downward effect on the CPI came from housing and household services.

This was mainly due to a fall in gas bills while they were unchanged a year ago. There was also a downward effect from heating oil which fell this year compared with a rise last year.

Food and non-alcoholic beverages contributed to the downward move with the largest effect coming from vegetables where prices fell by more than a year ago across a range of products.


Goldsmith Williams offers fee-free alternative

Goldsmith Williams is offering an incentive scheme which pays brokers a referral fee and guarantees completion with seven days of the mortgage offer being issued.

Land Registry should cut back, not raise its fees

I was intrigued to read your story last week that the Land Registry is proposing a fee hike to offset its operating loss due to a fall in transaction numbers (Mortgage Strategy Online).

Call to change tax on bulk purchases

The British Property Federation has appealed to chancellor Alistair Darling ahead of the Budget this week to change the way Stamp Duty is levied when properties are bought in bulk.


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