Blog

The BOE cuts rates by a half point to 1%, their lowest level in over 300 years, as it tries to drag Britain out of recession. The monetary policy committee voted to cut cost of borrowing again today to a new record low after hearing fresh evidence that the UK economy is in poor...

Some homeowners could see their monthly mortgage payments drop as low as 8p-a-month this week. The Bank of England is expected to cut interest rates to just 1 per cent on Thursday, bringing a windfall to those with interest-only tracker loans. If it does, Cheltenham &...

According to the Nationwide Index the average price of a house now stands at ?150,501 which is 1.3% lower than the ?153,048 that it cost in December. The annual rate of decline now stands at 16.6% which is worse than in December when it stood at 15.9%. Commenting on the figures...

The Bank of England has cut interest rates to the lowest level in its 315-year history today This would be the first time since the Bank was founded in 1694 that rates have fallen below 2%. It comes as the Treasury denied reports it was planning to inject more money. Treasury...

We wish you a happy new year 2009 and hope it is a better year for homeowners. With mortgage availability still low, conditions are still challenging. However, experts predict a cheaper cost of living and a possible revival of the housing market – so there may be a ray of...

First Mortgage has put forward a solution that it believes can boost activity in the housing market. It believes that through simple changes to the Indemnity Guarantee Insurance system is what is needed. Indemnity Guarantee Insurance (IGI) is taken out by lenders when mortgage...

Interest rates drop another 1% to 2%. This is the lowest level since 1951. City experts were hoping a radical 1.5% cut from the current 3% rate will be enough to kick-start spending on the high street, and prevent a slide into a depression. Accountancy firm PricewaterhouseCoopers...

The key three-month Libor rate, influential in pricing bank lending rates, has plunged more than 1%. Sterling three-month Libor drops from 5.56% to 4.49%, it was announced this morning. Libor is the rate at which banks lend to each other and so therefore influences mortgage...