Over 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 [...]
The 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 [...]
Earlier this month the Monetary Policy Committee met for its monthly meeting in order to discuss the base rate, and it was decided following the meeting that the base interest rate would be kept on hold at 5%. The base rate was last cut in April, following two earlier rate cuts. However, despite concerns over [...]
In April of this year the Bank of England cut the base rate for the third time since December of last year, cutting it by a further 0.25% and taking it from 5.25% to 5%. Following the rate cut the majority of analysts and economists predicted that there would not be a further interest rate [...]
An industry official has expressed concern that the Bank of England is effectively losing control of retail interest rates, stating that the recent base rate cuts by the central bank have often gone ignored by lenders, who have continued to raise their interest rates despite the base rate cut. Since December there have been three [...]
Chancellor of the Exchequer, Alistair Darling, has recently announced that he wants banks to do what they can to help the more vulnerable families in the country, stating that banks need to help struggling homeowners in order to reduce the risk of rocketing repossession levels. Both Darling and the Housing Minister, Caroline Flint, have stated [...]
The Bank of England announced earlier this week that the base rate was being cut by 0.25%, taking the base rate from 5.25% down to 5%. The announcement came after the Monetary Policy Committee meeting on Thursday, but did not come as a surprise to many industry experts who had been expecting the bank to [...]
Homeowners, many of whom are already struggling to try and keep up with mortgage repayments despite the recent interest rate cuts, are facing a real struggle when it comes to coping with their finances according to a recent report, with many expecting to face difficulties in coping financially due to strained household finances. The report [...]
Despite the two most recent Bank of England interest rate cuts the interest charged on personal loans in the UK is continuing to rise, leaving many potential borrowers facing huge costs relating to their borrowing, The rates on personal loans have been rising for some time, and as a result of the credit crunch many [...]
Most first time buyers in the UK have very little to put down by way of deposit on a mortgage, and this is because they have no previous property from which to use equity towards a deposit. In the past this has not proven too much of a problem, as many first time buyers have [...]
