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Base rate held and no more QE

The Bank of England’s monetary policy committee has decided to hold base rate at a record-low 0.5% for the 39th consecutive month and to keep its programme of quantitative easing at £325bn.

Base rate was cut to 0.5% in March 2009, on the same day the Bank initiated a programme of QE worth £75bn.

In February, the Bank voted to increase the size of its QE programme by £50bn to £325bn. This latest round of QE completed last month.

The minutes of last month’s MPC meeting show David Miles was the only member – out of nine – to vote for QE to be increased, arguing for a further £25bn.

Ben Thompson, managing director at Legal & General Mortgage Club, says: “With the economy still very uncertain it is no surprise to see interest rates remain unchanged and this is a good thing, as hopefully it will continue to encourage people who want to move house to think about doing so.”


Lloyds group top-ups need whole loan repayment plan

Lloyds Banking Group borrowers with an interest-only mortgage who are looking for a further advance will now have to supply evidence of a repayment plan for the entire loan. Previously, Lloyds group asked borrowers to provide evidence of a repayment method only for the extra that they sought on the loan. But, from May 28, […]

60 seconds with… Colin Bell, chief executive officer, Interbay

Did news that the JC Flowers-owned OneSavings Bank was in advanced talks to buy Interbay come as a surprise? No, we’ve been working on it for about six months now. Since we withdrew from the market in 2008 we’ve been speaking to potential investors to allow us to return to lending. What made OneSavings Bank’s […]

A guide to auction finance in 2017

By Matt Tooth, chief commercial officer, LendInvest Over the coming weeks, property auction houses across the country will begin sending out their catalogues to prospective buyers in time for the first auction series of 2017. It’s an exciting time for investors, well aware of the opportunities the properties on the lot sheets offer them and […]


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