Base Rate Held At 5.25% At todays Bank of England’s (BoE) Monetary Policy Committee (MPC) meeting they voted 7-2 to maintain the current Base Rate at 5.25% for the sixth consecutive month despite inflation falling further to 3.2%. This decision was followed, as in previous months, by initial promises of an imminent rate reduction. However, […]
Base Rate Held At 5.25% While Inflation Falls To 3.2% Read More »
Base Rate Battles Inflation while Swap Rates Shape Mortgage Costs Mortgage rates are frequently subject to speculation, especially when a notable shift in the Base Rate is currently at a 16-year high of 5.25%. This increase aims to combat inflation, which has significantly declined from 11.1% in October 2022 to 3.2% in March. The central
Lenders Increase Rates As Swaps Continue To Rise Read More »
Rate Reductions Amidst Uncertainty In a bold move this week, numerous lenders have opted to reduce their rates, aiming to invigorate business volumes in the face of persistent inflationary pressures. Despite reports indicating stubborn inflation, these lenders are betting on rate reductions to stimulate demand and bolster their market share. The decision comes amidst widespread
Lenders Resume Fight For Business As Swap Rates Continue To Rise Read More »
Base Rate: 5.25% Inflation: 3.4% Average House Price: £285,000 Bank Of England MPC – Why They Are Wrong It’s a glaring disgrace that the Bank of England’s Monetary Policy Committee (MPC) has voted 8-1 to turn a blind eye to the genuine financial struggles facing the public despite a noticeable drop in inflation. With inflation
Base Rate Held At 5.25% As Inflation Falls To 3.4% Read More »
Lenders Increase Rates This week, a wave of lenders increased their rates upward, driven by unexpected inflation figures. As consumer prices returned above initial forecasts, lenders faced heightened operational costs and increased risk exposure. To maintain profitability and safeguard against inflationary pressures, these lenders are compelled to adjust rates accordingly. What Next For The Bank
Lenders Increase Rates As Swap Rates Remain Steady Read More »
Excellent team meeting today with Lucy Hall, discussing how HSBC has emerged over the last six months as a formidable force in the mortgage market, significantly influencing lending trends and interest rates. This period has seen the banking giant expand its mortgage offerings and introduce competitive rates that have benefitted borrowers. HSBC’s strategic moves have enhanced
HSBC’s Pivotal Role in Shaping the Mortgage Market Read More »
Base Rate Held At 5.25% At the first Bank of England’s (BoE) Monetary Policy Committee (MPC) meeting in 2024, they unsurprisingly voted 6-3 to maintain the current Base Rate at 5.25% for a fourth consecutive month, backed by the objective to bring inflation down to meet their 2% target. The decision to hold the UK
Base Rate Held At 5.25% While Lenders Increase Rates Read More »
Excellent team meeting with Kim Dickinson, presenting Virgin Money and Clydesdale’s Enhanced Affordability calculations for Limited Company Directors. Mortgage affordability can significantly improve by strategically utilising both salary and share of company profits. Traditionally, lenders focus on personal income for mortgage assessments. However, directors often reinvest earnings into their businesses, understating their true financial capacity.
Virgin Money & Clydesdale Offer Enhanced Affordability For Company Directors Read More »
The UK’s largest mortgage lender, Halifax, has slashed rates to remain competitive as major lenders compete to undercut each other. This is excellent news for homeowners and mortgage borrowers for several reasons: Lower Monthly Payments Refinancing Opportunities Increased Buying Power Stimulating the Housing Market Help Ease Financial Stress Attract First-Time Buyers Market Competition Driving Down
January 2024 Kicks Off With A Bang As Lenders Slash Rates Early Read More »
Nationwide Building Society has reduced selected rates across their range again today, the eleventh reduction in four months, as they try to remain competitive amidst stiff competition from several other lenders jockeying for market share into the first quarter of 2024. The tables below show further Swap Rate reductions in the last three weeks since
Competition Mounts For Market Share In 2024 – Further Mortgage Rate Cuts Read More »
