Whilst there was a time when people wanted to avoid variable rate mortgages because of the high rate of interest attached to them many people at the moment are finding that these are the most cost effective mortgage types to opt for because of the record low interest rate that is still in place. (more…)
Posts Tagged ‘interest rates’
Continued popularity for variable rate mortgages
Monday, February 15th, 2010
Reductions being seen in personal loan rates
Tuesday, February 9th, 2010It has been reported that finally the rates charged on personal loans rates may be starting to fall. For many this will have been a long time in coming, given that the base interest rate in the UK has been at an all time low of just 0.5 percent since last March. (more…)
Up To 4 Percent Increase In House Prices Says CEBR
Friday, January 15th, 2010It has been forecast by the Centre for Economic and Business Research that house price increases next year will start to moderate and stabilise after a series of increases over recent months. (more…)
Homeowners better off due to low interest rates
Wednesday, December 30th, 2009Just eighteen months ago many homeowners in the UK were facing crippling mortgage repayments because of the high base interest rate, and many found that they were unable to keep on top of these repayments fuelling a surge in property repossessions across the UK. (more…)
Mortgage lending in October increased compared to previous month
Monday, December 14th, 2009Figures that were recently released by the Council of Mortgage Lenders have shown that there was a month on month increase in mortgage lending for the month of October, with mortgage lending for the month rising by around 5 percent compared to September. (more…)
One hundred thousand homeowners a month benefit from low interest rates
Saturday, October 31st, 2009According to a recent report around one hundred thousand homeowners every month are benefiting from the rock bottom base rate, which has stood at just 0.5 percent since April of this year. The current base rate is the lowest it has ever been in the history of the Bank of England, which spans over three hundred years. (more…)
Mortgage repayment savings being used to pay off credit card debt
Thursday, October 22nd, 2009It has been reported recently that many homeowners in the UK are using the savings that they are making on their mortgage repayments to make repayments on their credit card debts. (more…)
Economist warns on interest rate increases in 2010
Wednesday, September 30th, 2009Since April of this year the base interest rate has been at its lowest rate in the history of the Bank of England, which spans over three hundred years, and currently stands at just 0.5 percent. (more…)
No change to interest rates for September
Tuesday, September 22nd, 2009With the September Monetary Policy Committee meeting having been held last week the Bank of England has announced that there is to be no change in the current base interest rate, which will remain at its record low of just 0.5 percent for yet another month. (more…)
Banks increase profits through increasing loan rates
Wednesday, July 29th, 2009A recent report has suggested that banks in the UK are slyly trying to make more money from customers by increasing their personal loan rates, which some campaigners have described as being underhand. (more…)
Another hold on the base interest rate
Tuesday, July 21st, 2009Earlier this week the Monetary Policy Committee met up for the July monthly meeting with regards to reviewing the base interest rate. (more…)
Base rate will remain low into next year
Monday, July 20th, 2009Over the past eight months a series of base rate cuts by the Bank of England have seen the base interest rate plummet to its lowest level in the three hundred and fifteen year history of the Bank of England, standing at just 0.5 percent. According to recent reports many industry experts are now expecting the base interest rate to remain at this historic low level well into the course of next year. (more…)
Deals still available even though loan rates have risen
Saturday, June 13th, 2009According to a recent report whilst loan rates in the UK may have increased recently there are still some decent deals available for a number of consumers. (more…)
Is it a Good Idea to Lock in Your Mortgage at the Lower Rates Now Available?
Tuesday, May 26th, 2009The interest rates for mortgages in the UK are at the lowest level they have been in 300 years. Many homeowners are wondering if they should lock in their mortgage at these lower rates in an attempt to save money on their mortgage payments. (more…)
More money to be ploughed into the economy
Friday, May 22nd, 2009After the recent Monetary Policy Committee meeting earlier this month the Bank of England announced that the base interest rate was to be left on hold at 0.5 percent. (more…)
CML wants lower cap on mortgage interest rate reduction
Friday, March 6th, 2009The Council of Mortgage Lenders has asked for a lower cap to be introduced, which would mean that mortgage lenders would not be expected to reduce their mortgage interest rates beyond a certain level. (more…)
Record low for UK interest rates
Sunday, January 18th, 2009Following the recent Monetary Policy Committee meeting held last week the Bank of England has announced that the UK base interest rate has been cut yet again, falling by 0.5 percent from 2 percent to just 1.5 percent. (more…)
Loan rates have rocketed
Monday, December 22nd, 2008Consumers are being warned that over the past few months the interest rates charges on personal loans have rocketed, and rates are now well over double the official base rate of 2 percent, with more than a 5 percent margin between the base rate and the average rate of interest charged on these loans. In just a couple of months the gap between the rates charges on loans and the base rate has widened considerably, leaving consumers paying way over the odds on some personal loans. (more…)
Some mortgage lenders making money from base rate cuts
Friday, November 14th, 2008Between last December and April of this year the base rate was cut three times, each time by 0.25%. In a surprise move earlier this month, a day ahead of the October Monetary Policy Committee meeting, the Bank of England cut the base rate by a further 0.5% taking it to 4.5%. it was hoped that the rate cut would help to boost consumer confidence and the economy, and would ease financial pressures that were facing many households. (more…)
Brits being hit with rocketing loan interest rates
Wednesday, November 12th, 2008Since the onset of the global credit crunch consumers in the UK have been affected in many ways, with the cost of borrowing rocketing and with availability of finance in all sectors becoming more restricted and difficult. Many consumers have found that whilst they were able to get finance with relative ease a year or so ago, these days getting a loan or other form of finance is not so easy. Also, many have found that the cost of taking out a loan or other form of finance has gone up. (more…)
Nationwide passes on some of interest rate cut
Tuesday, November 11th, 2008According to recent report the Nationwide Building Society is planning to pass on part of the latest base rate cut, although it will not be passing on the full rate cut to borrowers. Officials state that as of the start of November Nationwide will be reducing the interest rates on its standard variable rate mortgages by a third of a percent, taking the rate from 6.49% to 6.19%. (more…)
Lending from banks becomes even tighter
Friday, November 7th, 2008According to a recent report lending amongst UK banks is getting even more difficult, and many of the banks and building societies in the UK are set to cut their lending level even more than they have over the past year, since the onset of the global credit crunch. This data comes from a report from the Bank of England. The report also claims that the fall in new mortgages over the past three months had been bigger than expected. (more…)
Banks cut mortgage rates after surprise announcement
Tuesday, October 21st, 2008Earlier this week the Prime Minister, Gordon Brown, and the Chancellor of the Exchequer, Alistair Darling, announced that the UK base rate was being cut by 0.5% from 5% to 4.5% in a surprise move one day ahead of the Monetary Policy Committee meeting. Other central banks around the globe, including the US Federal Reserve and the European Central Bank, also cut their base rates by 0.5% in a bid to try and stabilise the financial markets, boost the economy, and restore consumer confidence. (more…)
Surprise rate cut from central banks
Monday, October 20th, 2008Earlier this week the Prime Minister, Gordon Brown, and the Chancellor of the Exchequer, Alistair Darling, called a press conference where they announced that the UK’s base interest rate had been cut by 0.5% in an unprecedented move that saw central banks around the glob cutting their interest rates. The move came just one day before the Monetary Policy Committee meeting – where the interest rate movement is normally decided – was due to go ahead. (more…)
Interest rates on mortgages almost down to 2007 levels
Friday, October 3rd, 2008The interest rates on some mortgage products are now almost the same as they were in the summer of last year before the onset of the global credit crunch, according to a recent report. Officials from Moneyfacts have recently researched mortgage interest rates, and have found that in many cases they average rates are only very slightly higher than they were in summer of 2007. (more…)
Households could save thousands if rate cuts go ahead
Wednesday, October 1st, 2008There has been a great deal of speculation over when and by how much the Bank of England will cut the base interest rate over the next year, with inflationary pressures coupled with the threat of recession making decisions challenging for the Monetary Policy Committee. A number of industry officials have now said that the state of the economy will result in the central bank cutting rates a number of times over the next twelve months, with some guessing that the base rate could fall to 3.5% next year. (more…)
MPC member calls for major rate cuts
Monday, September 29th, 2008One member of the Monetary Policy Committee, which is involves in cutting rates, has recently called for major cuts to the UK’s base rate in order to avoid an economic slump that could last for a long period of time. The warning comes from MPC member David Blanchflower, who has been consistently voting for a rate cut over recent months at the monthly MPC meetings. However, having been outvoted rates have remained at 5% for the past five months. (more…)
Further rate cuts may be put on hold for this year
Saturday, September 13th, 2008In a recent speech the governor of the Bank of England, Mervyn King, said that there was a good chance that any further interest rate cuts for the remainder of this year would be put on hold, with the central bank now concerned that the soaring rate of inflation is getting more and more out of control. Despite the state of the economy, with many concerned that the nation is on the brink of recession, the governor has indicated that there could be no further interest rate cuts this year. (more…)
Experts comment on inflation and interest rates
Friday, September 5th, 2008Over recent months we have heard a lot about both soaring inflation levels and falling interest rates. Between August 2006 and July 2007 the nation saw interest rates rise five times, each time by 0.25%, taking the base rate up to 5.75%. However, between December of last year and April of this year the base rate was cut three times, again by 0.25% each time. This resulted in the base rate falling to 5% by April. However, since that time the base rate has remained at 5%, and growing concerns over the soaring level of inflation means that further base rate cuts could be off the card for the foreseeable future. (more…)
Interest rates for August remain on hold
Thursday, September 4th, 2008The Bank of England has announced that the base rate for August is to be held at 5% following the Monetary Policy Committee meeting, which was held last week to determine any movement in the base interest rate. It is a move that has come as no big surprise to most, with soaring inflation levels and the slowing economy making it difficult for the members of the MPC to make any changes to the base rate. (more…)
More from Mortgage News category
Ads and sponsors