View more on these topics

Market starts to think of cuts after rate freeze

The Bank of England&#39s Monetary Policy Committee voted to leave interest rates on hold at 4% last week.

There has been no change in base rates for nine months and some pundits say the next rate move could even be down.

John Cridland, deputy director-general of the CBI, says: “The right thing to do was nothing. There is little need for change with stockmarket declines, inflation at record lows and evidence that the recovery could be slower than was thought earlier in the year. In today&#39s difficult climate it&#39s no longer clear that the next move should be up.”

And Alison Cooley of Charcol adds: “After awaiting a base rate upswing, ironically we appear to be moving closer to a cut than a climb.”

The latest Nationwide figures show house prices increased by 2.5% in July. MPC members are known to be concerned about the annual rate of house price inflation, which has now hit 21%.

But Cooley says the committee could cut rates again without too much danger. She says: “A quarter point base rate cut would have little effect on the housing market There are early signs of a gradual cooling down in the market, especially towards the top end.”


Internet leads to be rolled out across rest of UK is offering its lead-forwarding service to IFAs and mortgage intermediaries in Scotland and Northern Ireland, following the scheme&#39s success across England and Wales.The Professional Adviser Alliance forwards leads to specific IFAs, each of whom has a postcoded territory. found that its existing network of 150 partners was generating over 150 qualified mortgage leads […]

Brokers get new weapon against delayed payment

Brokerages and other businesses are now able to claim up to £100 in debt recovery costs for overdue payment thanks to new legislation. Small businesses are already allowed to charge interest on late paid bills, and the new right to charge compensation costs aims to make late payers think twice before offering an excuse for […]

There&#39s no recklessness in buy-to-let

As the buy-to-let debate continues to fill column inches in the financial press, some criticism has been directed at lenders for jumping on the bandwagon and lending too much to buy-to-let investors, as fears grow that they will be the first to fall prey to a downturn in the market.Michael Coogan, director-general of the Council […]

BM won&#39t lend in Scotland

From George WilliamsonWhile it seems that BM Solutions is doing great, it does not wish to be great in Great Britain. While in theory it says it will lend in Scotland, in practice its systems make it almost impossible to recommend it to my Scottish clients. Why? In Scotland, an offer to purchase a property […]

Brexit and the mid cap buying opportunities

Video update from Mark Martin, Head of UK Equities, Neptune Investment Management With the Brexit referendum scheduled for 23 June, how much risk is priced into the market and is the current volatility a long-term buying opportunity? Watch Mark Martin, Head of UK Equities, and Holly Cassell, Assistant Manager on the UK Mid Cap and […]


News and expert analysis straight to your inbox

Sign up