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Bank of England Base Rate Held

It’s a shame that the Bank of England decided to hold interest rates at 5.25%, but this time the Monetary Policy Committee found itself in a no-win situation.

A cut would have been a welcome boost for homeowners, especially first-time buyers, and would have helped offset the rises in tracker rates, which have been occurring regularly over the past few weeks as lenders fight to increase their margins. It would also have come as a boost to the weakening housing market, which, according to Halifax, fell by 0.3% in February.

However, the Bank is also concerned by inflation, and had already warned in February’s inflation report that there may not be room for many more cuts in order to keep this in check. With this in mind, and the prospect of further rate rises among lenders, fixed rate products could prove attractive at present.

posted @ Thursday, March 06, 2008 12:15 PM | Feedback (0) |
Monday, March 03, 2008


Market watch 10 March 2008

Swaps dropped significantly last week but as we’ve seen recently, the fate of swap rates doesn’t affect current pricing.

Packagers call for TCF treatment from lenders

Packagers want lenders to apply the Treat- ing Customers Fairly initiative to them.The demand comes despite the Financial Services Authority emphasising that TCF is only designed to protect consumers.Nevertheless, packagers say the regime would stop lenders from failing to provide them with notice about product changes and cuts to administration fees.Vic Jannels, chairman of the […]

Finance Finder joins Promise proposition

Finance Finder has signed up to the Promise Solutions sourcing and underwriting proposition.The technology is said to simplify the secured loans process by providing support and services to brokers.Steve Walker, managing director of Promise, says: “We are pleased to announce that Finance Finder have joined Promise Solutions. “More mortgage Intermediaries are now realising that secured […]

Packagers are not ready to be written off

The run-up to this year’s Mortgage Packager Summit was more subdued than in previous years, even though delegates looked forward to staying at the beautiful Monte Carlo Bay Hotel.Despite difficult market conditions, the delegates who gathered for the event were confident that the packaging sector was ready for the challenges ahead.The event covered a broad […]

piggy, cash, money

A tailored approach to protection

By Ian Smart, Product Architect, Royal London In an ideal world, clients would be able to afford as much protection cover as they wanted, but few would describe current times as anything approaching ideal. But this doesn’t mean that they have to indulge in an either/or decision that results in missing out on some essential […]


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