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Rise will lead to more misery, says Lib Dems

The Liberal Democrat Party has hit out at the government in the face of the latest rate rise, arguing that 5.25% base rate will lead to more indebtness in the UK

Vince Cable MP, shadow chancellor for the Liberal Democrats, says: “The government has seemingly washed its hands of the whole problem of personal debt.

“It has spent a lot of time regulating savings and investments, while ignoring irresponsible lending.

“Thanks to the government’s failure to promote independent debt advice, many families who find themselves in difficultly will not know where to turn.

“UK mortgage holders have now seen three rate rises in the last six months.

“This latest and unexpected rise will spell further trouble for those already feeling the squeeze.

“It will be very unwelcome for countless families who are already struggling with a debt hangover from Christmas.

“These increases in interest rates will hike the monthly cost of a 150,000 mortgage by around 75 per month.

“Unfortunately this is likely to lead to a further rise in repayment difficulties on mortgages, including repossessions and bankruptcies.


Skipton to host NI roadshow

Skipton is inviting brokers to a series of roadshows in Belfast and Londonderry. The society recently launched an intermediary lending service in Northern Ireland.The host of the roadshows will be Dave Forrest, Skiptons intermediary sales manager for the area, giving brokers the opportunity to meet their local contact face-to-face.Forrest says: We only very recently announced […]

Commercial First reports 200% growth rate

Commercial First has reported a growth rate of over 200% in further advance lending since it set up a team to service this business six months ago. Stephen Johnson, sales and marketing direct Commercial First, says: The further advance team are able to use many aspects of the original application including documentation, the conveyancing process […]

Wages will struggle to rise, says Assetz

Assetz has warned that the rate rise will scare businesses into low wage negotiations in Q1 2007.The property investment company has assumed that the surprise rise is an attempt by the Monetary Policy Committee to curb inflation.Stuart Law, managing director of Assetz, says: The MPC has delivered a warning shot to businesses with this surprising […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


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