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Inflation hits low of 0.5% as energy prices stagnate

UK inflation fell by 50 basis points to 0.5 per cent in December, the joint-lowest figure on record, says the Office for National Statistics.

According to the ONS, stagnant gas and electricity prices in November – compared with energy price increases a year earlier – were a key contributor to the decrease in inflation.

Falling oil prices also led to lower diesel and petrol revenues than a year earlier, placing further downward pressure on the rate of inflation.

Separately, the Retail Price Index fell by 40bp to 1.6 per cent between November and December.



Analysis: We need an MMR for consumer credit

Increasing numbers of borrowers have been unable to get a mortgage of the size they would like since the MMR was implemented last April, mostly due to stringent affordability checks.  So how can it make sense that, the very next day after obtaining a mortgage, someone could run up debts, potentially of tens of thousands […]


Paymentshield appoints new chief financial officer

Insurance provider Paymentshield has appointed Rob Evans as its new chief financial officer. Evans joins the company from Westfield Health, where he spent six years as financial director. He previously spent four years in senior management roles at Scarborough Building Society Group as well as working for six years at Zurich Financial Services between 1998 […]


Financial Ltd posts £105k pre-tax loss

Financial Limited made a pre-tax loss of £105,502 in 2013/14 and says a recruitment ban imposed by the FCA casts “material uncertainty” over the network’s future, its latest accounts reveal. The accounts show the network made a loss for the year ended 31 March 2014, having broken even in the previous year. In July 2014 […]


Specialist Pepper UK takes off

New specialist lender Pepper UK has launched just over a year after it first announced its intentions. Mortgage Strategy revealed in September 2013 that Pepper Group was planning to launch a mortgage lender in the UK. The non-bank lender has confirmed it is piloting a suite of residential and buy-to-let products through Brightstar Financial and Mortgage […]


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