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BoE raises base rate to 5.25%

The Bank of England’s Monetary Policy Committee has voted to increase the base rate 0.25 percentage points to 5.25%.

Industry pundits largely expected the MPC to hold rates in Janaury, before a predicted rate rise in February.

The last interest rate rise was in November.

The MPC says an increase in interest rates to 5.25% was necessary to bring CPI inflation back to the target in the medium term.

The minutes of the meeting will be published Wednesday January 24.


More people plan to move to France

Double the number of UK residents are planning to move to France this year compared with last, says VEF. And more UK owners of holiday homes in Europe and the US are predicted to sell up and buy in France as fears of aviation fuel surcharges grow.

Still some work to be done on compliance

The Financial Services Authority has regulated the industry since October 2004 and things seem to have bedded down nicely on the whole.

Mortgages PLC extends free valuations offer

Mortgages PLC has extended its free valuations scheme until the end of 2007.The free valuations scheme, which was first launched in the spring of 2005, applies to all products except buy-to-let. The scheme continues to be available on all discounted and fixed rate products, except buy-to-let, on cases submitted on a direct basis only for […]

Portman revises fixed rates

Portman has made a number of changes to its fixed rate mortgage range following the recent rise in swap rates. The society is now offering a two-year fixed rate of 4.83%, or 5.59% with no arrangement fees.Its three-year fixed rate is now at 5.25% or 5.49% with no arrangement fees. It is also offering a […]


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