The Bank of England has kept interest rates on hold at 0.75% but indicated it may cut the cost of borrowing if global economic growth fails to recover or Brexit uncertainties persist. It said the UK economy was expected to pick up from its current weakness. However,...
Read moreMortgage rates have rarely been cheaper but in the past couple of weeks the cost of longer-term fixed rates has dropped disproportionately – making the idea of fixing for 10 years or more look increasingly tempting. The cheapest two-year fixed rate currently...
Read moreVirgin Money is offering homeowners the chance to lock into a mortgage rate of just 2.55% for 15 years, the longest fixed rate on offer. The rates are extremely competitive, prompting homeowners to consider fixing, but there are hefty penalty fees to pay if you need...
Read moreMonetary Policy Committee Announcement and Minutes At its meeting ending on 1 August 2018, the MPC voted unanimously to increase Bank Rate by 0.25 percentage points, to 0.75%. The Committee voted unanimously to maintain the stock of sterling non-financial...
Read moreThe Bank of England has admitted that current forecasts show its base rate could remain under 2% for the next 30 years. Earlier this month Bank of England chief, Mark Carney, raised expectation of a base rate increase in August, but it is now suggested it could remain...
Read moreBank of England governor Mark Carney has raised expectations of an interest rate rise next month, after talking up the UK’s economic performance. Data points to a pick-up in growth in the second quarter of the year, after a disappointing start to 2018, according to...
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