View more on these topics

UK inflation falls to 4.2%

The UK consumer prices index has fallen to 4.2% in December, according to the Office for National Statistics.

The UK consumer prices index has fallen to 4.2% in December, according to the Office for National Statistics.

The consumer prices index is down 0.6% from 4.8% in November. The retail prices index fell to 4.8%, from 5.2% in November.

The 0.6% fall in CPI marks the largest month-to-month fall since November and December 2008, the falls came from downward pressure on petrol, gas and clothing prices. RPI downward pressures came from petrol, oil & other fuels, gas, clothing and footwear.

Both RPI and CPI have fallen markedly since September 2011, when RPI reached a 20-year high of 5.8%, while CPI stood at 5.6%

The Bank of England’s target rate for CPI is 2%. Last month, Bank of England executive director and chief economist Spencer Dale said inflation would fall to around 3% by March 2012.


Accord enters 90% LTV arena with fixed deals

Accord Mortgages’ launch into 90% LTV lending has been welcomed by brokers. The lender, which previously lent up to 85% LTV, last week launched a range of two and five-year fixed rates at 90% LTV. New products include a two-year fix at 4.89% with a £995 fee, a two-year fix at 4.99% with a £995 […]

SimplyBiz Mortgages appoints CEO

SimplyBiz Group has appointed Martin Reynolds to the newlycreated role of chief executive of SimplyBiz Mortgages. Reynolds will take responsibility for all aspects of running the mortgage club, including developing its offering and recruiting members. He will report to Matthew Timmins, joint managing director of the group. Ken Davy, chairman of SimplyBiz, says: “SimplyBiz Mortgages […]

Consumer credit websites to be investigated by OFT

The Office of Fair Trading is to scrutinise 38 consumer credit websites after an investigation by the European Commission found malpractice to be widespread. The EC investigation found that 70% of the 562 websites checked across Europe needed further investigation, primarily because they omitted key information or presented costs in a misleading manner. Of the […]


DB transfer showstoppers

By Jim Grant, Senior Product Insight & Technical Support Analyst Transfers from defined benefit (DB) schemes are a bit of a hot topic just now. In this article we look at a couple of factors that could prevent a transfer from happening Equalisation of pensions Prior to the Barber case in 1990, DB pension schemes typically provided […]


News and expert analysis straight to your inbox

Sign up