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Interest rates kept on hold at 0.5%

Interest rates have once again been kept on hold at 0.5% by the Bank of England’s Monetary Policy Committee.

Richard Barker, mortgage manager at Norwich & Peterborough, says: “The decision to leave Base Rate unchanged at 0.50% for the 30th month in a row was widely expected across the market.

“Although the current Consumer Prices Index inflation figure remains well above the government’s target, the UK economy remains relatively fragile at present and any increase is now predicted to occur in 2012.

“Recent housing market data suggests that house prices fell slightly in August and affordability for first time buyers is stretched, further reinforcing the argument to keep rates on hold for longer.”


EU directive could force HSBC to go all advised

Martijn Van der Heijden, head of lending at HSBC, says European regulators’ proposals for advised sales would fundamentally change the way it sells mortgages. The European mortgage directive proposes that all advised mortgage sales will require an appropriate comparison of products. It could force branch advisers to offer products from competitors or offer a purely […]


Half A Glass…

At a time when negative headlines dominate the economic landscape it is hard not to notice that consumer confidence has taken a battering in recent weeks.


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