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Skipton removes five-stories rule

Skipton Building Society has removed a restriction that would previously see it reject an application from a borrower who wanted to purchase a flat in a building more than five stories tall.

Previously, only flats within buildings of five stories or under and which contain 48 units or less were allowed.

However, this restriction has been lifted for flats which have at no time been a local authority properties.

Skipton head of products Kris Brewster says: “After reviewing our old policy, we could see that it really didn’t make sense to restrict our lending on quality flat developments simply due to their height or size when we have independent valuations in place.”


Carney ‘fully prepared to deploy tools’ if housing bubble emerges

Bank of England governor Mark Carney last week said he is “fully prepared to deploy” new tools such as lending restrictions and increased capital requirements on mortgages in the event a housing bubble begins to emerge. Before the crisis, the Bank’s Financial Policy Committee only had powers to raise concerns about financial stability but no […]

MPC holds base rate and QE

The Bank of England’s Monetary Policy Committee has voted to keep base rate at 0.5 per cent and its programme of quantitative easing at £375bn.

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]


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