View more on these topics

Base rate frozen at 0.5% yet again

The Bank of England’s Monetary Policy Committee has voted to keep the base rate at 0.5% and brought quantitative easing to a halt.

The Bank has used up its £200bn budget on buying up government bonds in an attempt to boost the supply of money in the economy. It has spent £200.24bn so far.

The base rate has now been held at 0.5% for 11 consecutive months

Alan Cleary, managing director of Exact, says: “Rates should be kept on hold indefinitely – you don’t take a plaster cast off a broken leg until you know it has healed.

“The lending market simply has not had enough time to recover to the point where it could withstand the impact of an interest rate rise.”

Recommended

market watch

It’s good to see more products on the market but it means little if they are not competitive – after all, it doesn’t make any difference if lenders have 300 products each if they are all rubbish

2

Mortgage Times still not in administration

The Mortgage Times Group has still not been placed in administration almost a month after it was claimed that an application had been made.Mortgage Times staff were originally told by management that the network had been placed in administration on December 21. HM Revenue & Customs also filed a winding-up petition back in November in […]

Tories pledge to raise Stamp Duty threshold to £250,000

Shadow chancellor George Osborne has pledged to raise the Stamp Duty threshold to £250,000 if the Conservative Party wins the election. The party outlined its plans last week in a report entitled A New Economic Model. The Tories want to increase the Stamp Duty threshold from £125,000 to £250,000 and raise the Inheritance Tax threshold […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]

Newsletter

News and expert analysis straight to your inbox

Sign up