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MPC keeps rates unchanged

The Monetary Policy Committee (MPC), kept rates unchanged before going off on its August

holidays, because it is generally thought that the house price boom has not come to an end.

It was believed that due to the unusual circumstances in June, such as the World Cup and the

Jubilee Celebrations, the weak retail sales figures could not totally be trusted.

There had been some unexpectedly high and low figures, and the discrepancy between

reported numbers and expectations has changed general perceptions about the economic


However, if there are a couple more months of weak retail data, the case could build up for a

rate cut.


ABI and BBA rule out joint insurance body

The ABI and BBA have decided not to pursue the idea of a new body to represent the banking and insurance industries. The associations say the decision follows consultation with a wide range of member companies and a careful consideration of the desirability and practicality of setting up such a body. In view of the […]

Mortgage Promotions boosts Chelsea fee

Mortgage Promotions is increasing the fee it pays to members on business introduced to Chelsea Building Society. The new fees are: 0.28% of the advance, or 0.3% of the advance on loans over £150,001, subject to a minimum £175. 0.85% of the advance on the Prospect mortgage, subject to a maximum of £1,400.00) Nick Baxter, […]

Genesis Home Loans updates Freedom adverse

Genesis Home Loans has updated its Freedom adverse credit range, along with its Pathfinder, Prospector and Challenger products. Interest rate amendments on the products have been made and new end dates have been given. The Freedom range is a comprehensive &#39menu&#39 style sub-prime range that allows for CCJs, defaults, arrears, IVAs, bankruptcy and past repossessions. […]

MIFAS launches buying club

Misys IFA Services (MIFAS), has announced the launch of its buying Club for the benefit of its members. The MIFAS Buying Club will provide members with access to discounted products and services for their businesses. It offers products and services from Insight (providers of computer hardware and software products), Parity (IT and management skills training […]


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