The Bank of England's Monetary Policy Committee (MPC) was unanimous in its decision to keep interest rates on hold at 0.5% in May, minutes have shown.
The MPC said that while the UK economy was performing as expected, uncertainty had been caused by the impact of public debt problems in ... more »|
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Wednesday, May 19
Bank of England unanimous over keeping rates on hold
by
Jet-to-Let Magazine
on Wed 19 May 2010 16:23 BST
Tuesday, November 10
House prices are to "keep on rising"
by
Jet-to-Let Magazine
on Tue 10 Nov 2009 11:35 GMT
House prices are likely to keep on rising for the time being, says the Royal Institution of Chartered Surveyors (Rics). Its latest monthly survey shows that sellers are now beginning to return to the property market. But they are still being outweighed by the number of potential buyers registered with ... more » Friday, November 6
Cheap Money may create another property bubble
by
Jet-to-Let Magazine
on Fri 06 Nov 2009 09:33 GMT
Great swaths of the world’s residential property market are not just in full recovery mode — they are booming. While the property pages in Britain have focused on a slight pick-up at the top end of the market, partly because of a revival in bankers’ bonuses, there is a full-scale ... more » Thursday, October 8
UK interest rates remain on hold
by
Jet-to-Let Magazine
on Thu 08 Oct 2009 17:23 BST
The Bank of England's rate-setting committee has kept UK interest rates on hold at 0.5% for the seventh successive month, as widely expected. The Bank also said it would continue with its programme of pumping £175bn into the economy, which it said would likely take another month to complete. Interest ... more » Wednesday, July 22
Bank unanimous on rate decision
by
Jet-to-Let Magazine
on Wed 22 Jul 2009 15:15 BST
The Bank of England's interest rate setters voted unanimously to hold interest rates at the record low of 0.5% earlier this month. The Monetary Policy Committee (MPC) also agreed to maintain its £125bn quantitative easing (QE) programme. Minutes of the committee's July meeting showed it expected growth data for the ... more » Tuesday, July 21
Long-term fixed rate mortgages come to an end
by
Jet-to-Let Magazine
on Tue 21 Jul 2009 16:23 BST
The long-term fixed rate mortgage market has come to an end, as Manchester Building Society withdraws its 30-year fixed rate product. Now, according to Moneyfacts.co.uk, the longest period which a borrower can fix their mortgage for is 15 years. In July 2007, Prime Minister Gordon Brown said that longer term ... more » Thursday, June 18
Public borrowing at record levels
by
Jet-to-Let Magazine
on Thu 18 Jun 2009 17:12 BST
UK public sector borrowing was the highest on record in May, the Office for National Statistics said. Public sector net borrowing was £19.9bn in May, and has already reached £30bn in the first two months of the financial year. This is double the level of one year ago, and even ... more » Thursday, April 9
Bank keeps interest rates at 0.5%
by
Jet-to-Let Magazine
on Thu 09 Apr 2009 15:54 BST
The Bank of England has kept interest rates on hold at 0.5%, in a widely expected move following a number of rate cuts in recent months. Rates remain at an all-time low after six cuts since October last year, when interest rates stood at 5%. The Bank is also continuing ... more » Tuesday, March 24
Key inflation measure hits zero
by
Jet-to-Let Magazine
on Tue 24 Mar 2009 10:03 GMT
A key measure of UK inflation has fallen to zero for the first time in 49 years, official figures show. The Retail Prices Index (RPI), which includes housing costs, fell to 0% in February on an annual basis from 0.1% in January. There are concerns that if prices keep falling, ... more » Monday, March 16
Nationwide raises mortgage tracker rates
by
Jet-to-Let Magazine
on Mon 16 Mar 2009 17:02 GMT
Nationwide Building Society announced plans to increase some of its mortgage rates by up to 0.3% today. The lender has repriced its two-year tracker mortgage for people remortgaging with a 40% deposit to 3.93%, up from 3.63% previously. Friday, March 6
What low interest rates mean for you
by
Jet-to-Let Magazine
on Fri 06 Mar 2009 17:04 GMT
RBS/NatWest will not pass on the latest cut in the Bank rate to its variable rate mortgage customers. The bank, which is majority owned by the taxpayer, said it had to consider savers too and its standard variable rate (SVR) was already competitive. Some of the UK's other big mortgage ... more » Thursday, March 5
UK interest rates to fall further
by
Jet-to-Let Magazine
on Thu 05 Mar 2009 11:30 GMT
The Bank of England is expected to cut interest rates to a fresh all-time low and start increasing the money supply in an attempt to revive the economy. Most analysts believe the Bank will cut rates to 0.5% from 1%. An announcement is due at 1200 GMT. As rates get ... more » Wednesday, March 4
Cluttons' House Price Predictions
by
Jet-to-Let Magazine
on Wed 04 Mar 2009 11:30 GMT
A recent market forecast from Cluttons predicts further house price falls this year but a levelling off in 2010… House prices will fall by nine per cent this year and by 1.5 per cent next year, with a peak-to-trough decline of 24 per cent, according to the latest Cluttons' residential ... more » Tuesday, March 3
Don't bank on a Base Rate cut
by
Jet-to-Let Magazine
on Tue 03 Mar 2009 09:20 GMT
Stuart Law, Chief Executive of Assetz comments ahead of the Bank's interest rate decision this week: "Whilst the majority of commentators believe the Bank of England will drop base rates a further half point down to the lowest on record at 0.5%, I don't believe this is a clear cut ... more » Wednesday, February 18
Bank aiming to boost money supply
by
Jet-to-Let Magazine
on Wed 18 Feb 2009 15:52 GMT
The Bank of England is seeking approval from the government for a series of measures aimed at increasing the supply of money in the economy. Technically known as quantitative easing, the aim of the process is to try to increase the amount of funds in the UK banking system. The ... more » Friday, February 13
Mortgage levels 'prove rate cuts don't work'
by
Jet-to-Let Magazine
on Fri 13 Feb 2009 14:22 GMT
The low level of mortgage approvals in 2008 shows that reductions in the Bank of England's base rate have not worked, it has been claimed. According to head of mortgages at moneysupermarket.com Louise Cuming, lending did not even fall this low in 1989 when the Bank's base rate was increased ... more » Thursday, February 5
UK reduces interest rates to 1%
by
Jet-to-Let Magazine
on Thu 05 Feb 2009 14:07 GMT
The Bank of England has reduced interest rates to a record low of 1% from 1.5% in an attempt to boost the shrinking economy. This marks the fifth interest rate cut since October, as the Bank seeks to encourage more lending. However, there are concerns that savers will be hurt ... more » Wednesday, February 4
Barclaycard cuts 'low-risk' rates
by
Jet-to-Let Magazine
on Wed 04 Feb 2009 14:47 GMT
Barclaycard has cut interest rates for some of its customers after coming under pressure to do more to help those struggling with finances. About three million of its lowest-risk customers will see their rate fall by between 2.5 and 5 percentage points. But critics have attacked credit card firms for ... more » Tuesday, February 3
Societies oppose more rate cuts
by
Jet-to-Let Magazine
on Tue 03 Feb 2009 15:52 GMT
The Building Societies Association (BSA) has called on the Bank of England not to cut interest rates this week. The Bank's monetary policy committee (MPC) meets on Thursday amid widespread expectations of a further reduction in the cost of borrowing. The BSA said this would have a "severe impact on ... more » Monday, February 2
Mortgage payments to reach as low as 8p?
by
Jet-to-Let Magazine
on Mon 02 Feb 2009 12:16 GMT
Some homeowners could see their mortgage payments falling as low as zero this week if the Bank of England slashes its base rate to one per cent on Thursday. If the rate does fall this low, customers who took out Cheltenham & Gloucester's deal at 1.01 per cent below the ... more » Sunday, January 18
AS INTEREST HITS RECORD LOW, GET YOURSELF IN A FIX
by
Jet-to-Let Magazine
on Sun 18 Jan 2009 10:45 GMT
BORROWERS with tracker mortgages have had plenty to smile about in recent months, as falling interest rates have heralded a series of cuts in their monthly repayments. But it’s been a different story for savers with money in variable-rate savings accounts, as they have seen interest decimated in the wake ... more » Monday, January 12
Pound eases after record run
by
Jet-to-Let Magazine
on Mon 12 Jan 2009 12:44 GMT
The pound retreated on Monday, as traders took profits following a strong run last week and as Ireland accused the UK of engineering sterling’s recent slump. Sterling put in it best performance against the euro since the inception of the single currency in 1999 last week and posted its largest ... more » Sunday, January 11
Property predictions after an historic year
by
Jet-to-Let Magazine
on Sun 11 Jan 2009 13:46 GMT
Predicting the future of any market is treacherous , so with that in mind I will attempt the impossible and predict what will happen in the residential property market in 2009. But before looking forward it is wise to review the past, and in particular the recent past. When the ... more » Saturday, January 10
Interest rates hit all-time low
by
Jet-to-Let Magazine
on Sat 10 Jan 2009 16:26 GMT
The Bank of England has cut interest rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to aid an economic recovery. The half percentage point reduction brings interest rates below 2% for the first time since the Bank of England was founded in 1694. Manufacturers' ... more » Thursday, January 8
Bank of England cuts rates by 50 basis points
by
Jet-to-Let Magazine
on Thu 08 Jan 2009 12:27 GMT
The Bank of England’s Monetary Policy Committee (MPC) has just cut rates by 0.5%, in line with analysts’ expectations. This brings UK Central Bank rates to just 1.5%, the lowest since the Bank was established in 1694. The move is the latest dramatic step towards tackling the increasingly severe downturn ... more »
Rates tipped to hit all-time low
by
Jet-to-Let Magazine
on Thu 08 Jan 2009 10:49 GMT
The Bank of England is expected to cut interest rates to the lowest level in its 315-year history when it makes its monthly decision later. With rates currently at 2%, the Bank's Monetary Policy Committee is tipped to announce a reduction of between 0.5 and one percentage point. This would ... more » Wednesday, December 17
Nationwide in 95% mortgage market
by
Jet-to-Let Magazine
on Wed 17 Dec 2008 15:51 GMT
Nationwide has launched a new mortgage for existing borrowers who have just 5 per cent equity in their homes. The lender is the first to re-enter the high loan-to-value market following a mass withdrawal by mortgage providers earlier this year as property prices started to fall. Nationwide’s new deal is, ... more » Tuesday, December 16
Will 2008 be a watershed for the buy-to-let sector?
by
Jet-to-Let Magazine
on Tue 16 Dec 2008 15:46 GMT
By any measure 2008 has been a grim year for most people who invested in the housing market. The freezing up of credit has sent property prices tumbling, and made it virtually impossible to get a decent buy-to-let mortgage without a deposit of at least 25pc. And while rents initially ... more » Friday, December 12
When will the UK property market recover?
by
Jet-to-Let Magazine
on Fri 12 Dec 2008 15:38 GMT
This year has been one that most home-owners would rather forget. Price falls, currently wiping about £80 off the average property each day, show no sign of abating and will continue well into next year. So say the forecasters, many of whom were caught out by the steeper than anticipated ... more » Wednesday, November 12
US eases loan repayment terms for homeowners
by
Jet-to-Let Magazine
on Wed 12 Nov 2008 12:15 GMT
Hundreds of thousands of American homeowners are to make lower mortgage repayments under a sweeping programme of loan renegotiations brokered by the US government to slow down the rate of property repossessions. Treasury officials yesterday announced a programme restricting repayments to 38% of household income for many borrowers. The arrangement ... more » Friday, November 7
Behind the news: The Bank of England statement in full
by
Jet-to-Let Magazine
on Fri 07 Nov 2008 11:31 GMT
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.5 percentage points to 3 per cent. The past two months have seen a substantial downward shift in the prospects for inflation in the United Kingdom. There has been ... more »
Massive interest rate cut fails to lift stock market
by
Jet-to-Let Magazine
on Fri 07 Nov 2008 10:59 GMT
The largest interest rate cut for more than 25 years failed to prevent yet another sell-off by stock market investors yesterday, as the dramatic impact of a 1.5 percentage point reduction from the Bank of England was undermined by the worst housing market figures in living memory and a disastrous ... more » |
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