The Monetary Policy Committee has decided to hold the base rate at 0.75%. They meet every six weeks to determine the base rate and voted unanimously to keep it at 0.75%.Given the outcome of Brexit being undecided, this was to be expected. Although the 3rd quarter data has suggested a recession should be avoided, the MPC is sticking to a cautious…
Category: News
Is the recovery coming?
Is the recovery coming? This is a question my clients continuously ask me. They seem to be getting more anxious and frustrated every day. Especially the clients who have loads of equity but may not meet the strict affordability requirements. They may also have bad credit which lenders are simply not interested in at the moment. I watched a programme…
A step in the right direction "Banks to reorganise thier retail divisions"
This has been a hot topic ever since the credit crunch began in 2007. I have to say that I welcome the news to split the banks retail divisions from their investment divisions. The more we found out about the dodgy dealings that went on the more shocked I became. For example:- The way in which bankers got there bonuses!…
Bank base rate held at 0.5%
For the 30th consecutive move the Bank of England base rate has been held at 0.5%. The minutes of the August MPC meeting has revealed that it was a unanimous vote for the past two months. This is likely to continue well in to 2012 as the UK economy remains fragile. If you need some infromation on secured loans, Remortgages…