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CML unsurprised by interest rate rise

The Council of Mortgage Lenders is unsurprised by yesterday&#39s decision by the Bank of England&#39s Monetary Policy Committee to raise interest rates.

CML director-general Michael Coogan says: “This rate rise reverses the rate cut in July, which was made on the basis of GDP estimates which have since been revised upwards. But it is far from clear whether today&#39s move is the start of a concerted hike in rates over the coming months.

“Much will depend upon how higher rates feed through into household borrowing and spending decisions. Given the uncertainty, mortgage borrowers should take a cautious approach and ensure they have enough flexibility to cope with further rate rises if they occur.

“The CML and other commentators have been expecting the housing market to show signs of cooling for some time, but house price growth has continued to remain strong. Modest increases in mortgage costs are a necessary part of the market&#39s adjustment to more sustainable conditions.”


Platform in branding deal with LMS

Platform has formed a branded lender relationship with Essex-based packager LMS Homeloans. LMS joins five other Platform-funded branded lenders and plans to offer a product range including prime, self-cert, buy-to-let and non-conforming deals to mortgage brokers. Intermediaries using LMS Homeloans will have access to two base rate tracker exclusives with a £750 cashback available on […]

ASDA to offer mortgage cover

ASDA will offer life and mortgage insurance to its 11 million weekly shoppers in the UK supermarket giant&#39s latest foray into financial services. The move follows the recent roll out of motor, travel and home insurance through its 263 stores and website. The provision of financial services is a key aim of US parent Wal-Mart […]

The mortgage mole

Feeling the heatIt took around seven hours to recover from that buffet brunch at the Corrinado (Mole, October 27) and Mole couldn&#39t help but chuckle at the location. It seems the Corrinado is also home to Billy Wilder&#39s 1959 cinematic classic Some Like It Hot. The film, which stars Marilyn Monroe as Sugar Kane Kowalczyk, […]

Lenders reprice SVRs following rate rise

Lenders are repricing their standard variable rates in the wake of the Bank of England&#39s 0.25% interest rate rise last week. Among the first lenders to announce changes to their rates are Nationwide, which will increase its SVR by 0.35% to 4.89% from December 1 and Standard Life, which will increase its rate by 0.25% […]

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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