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Hamptons comment on rate rise

Jonathan Cornell, technical director at Hamptons International Mortgages, says: This was a widely expected decision and no one should be surprised. This latest base rate increase, combined with the August rise should start to put the brakes on house price inflation.

The MPC has been very successful over the past couple of years at keeping inflation within the specified target by making small tweaks to interest rates. Monetary policy has been described as tugging a brick with a piece of elastic, you pull once and it does not move, you pull again and it still doesnt move so you give it a yank and it hits you on the nose. This increase represents the second pull.

Inflationary pressures have prompted the MPC to act now with a preventative flu jab against high inflation in the spring. However, if this latest increase fails to cool inflationary pressure the MPC may be forced into more drastic action in a few months time.



TMB launches house-to-house range

The Mortgage Business launched a series of house-to-house products in its new product range. The range offers two new products: one with a two-year rate at 4.99% with no early redemption charges, and the second product offering a rate without HLCs or ERCs. The TMB house-to-house range is available for applications on true self-cert, true […]

Salt launches specialist lines

The Derbyshire is launching commercial and buy-to-let ranges through its subsidiary Salt this week.The society has already been dabbling in commercial mortgages through its main brand since February this year. But it hopes to increase its market share by launching ranges through its subsidiary.Salt Commercial and Salt Buy-to-Let will officially be launched at this week’s […]

PMPA exclusive deals from TMB

The Professional Mortgage Packagers Alliance has launched four exclusive products and one semi- exclusive product from The Mortgage Business. The first two deals are options in TMB’s Self 85 range that allows self-cert to a maximum LTV of 85%. The other two exclusives are in TMB’s house to house range. Both are two-year trackers with […]

Towergate buys Paymentshield

Towergate has bought Paymentshield, the UK’s largest independent supplier of mortgage related general insurance products to the intermediary sector. Under the terms of the deal, Paymentshield will remain an independent business, but now becomes a sister company of Towergate Partnership, Europe’s largest independently owned insurance intermediary. This follows the management buy-in in 2004 led by […]

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]


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