View more on these topics

Rate rise will spark repossessions, warns actuarial consultancy

Actuarial consultancy Punter Southall has warned that the surprise rate rise may spell further misery to homeowners who are battling against repossession.

John Postlethwaite, consultant at Punter Southall, say: “This rise could start to put pressure on those people who have borrowed up to their maximum and the Royal Institute of Chartered Surveyors has predicted that home repossessions could increase this year following any rate rise.

The extra 0.25% will mean a rise of approximately 16 per month on a 100,000 repayment mortgage over 25 years based on the Halifax’s standard interest rate.

Recommended

Abbey questions MPC’s lack of rate rise warning

Abbey has questioned the Monetary Policy Committees decision to raise the base rate to 5.25% after it gave no warning in previous meetings.Barry Naisbitt, chief economist at Abbey, says: “The timing of today’s increase in base rates by 0.25% to 5.25% was a big surprise.Financial markets had been expecting a rise in February although even […]

E-trading system for Nationwide

Nationwide will launch an e-trading system on January 16 to service it and its subsidiary UCB Home Loans.

Technology is fine but speed isn’t everything

I think most people in the industry would pass on their congratulations to the likes of GMAC-RFC and edeus for the technological innovations they have brought to the market.

Amber unveils fixed deals

Amber Homeloans has launched a range of three-year fixed rate products. The deals are at 5.99% full status and 6.09% self-cert, and are available for borrowers with up to £15,000 worth of County Court judgments against them.

Health Shield

Product guide — health cash plans to suit all shapes and sizes

This guide, called ‘Health cash plans to suit all shapes and sizes’, provides information on Health Shield’s standard and tailored cash plans, which are designed to satisfy all business and employee needs. Each scheme can be offered on a voluntary, company-sponsored or flexible-benefits basis.

Newsletter

News and expert analysis straight to your inbox

Sign up