The Bank of England’s Monetary Policy Committee has told the UK’s banks to prepare for negative interest rates within the next six months. While the Bank stressed this doesn’t mean negative rates are necessarily going to be put in place, policymakers want to be ready...
Read moreHomeowners who turned to banks for help in their hour of need could face much higher interest rates in future or even be denied loans altogether. Banks have been accused of moving the goalposts after it emerged that they could reject applications from people who asked...
Read moreRemortgage deals are available with rates lower than 1% The coronavirus outbreak may have caused chaos in the property market, but it has also given existing homeowners an opportunity to save thousands of pounds by remortgaging. While hundreds of house purchase...
Read moreLeeds BS offers two new fixed rate deals with no early repayment charges Borrowers can overpay or pay off their loan without incurring penalties The two and five-year fixes come in at 1.71% and 1.97% respectively Leeds Building Society has ditched early repayment...
Read moreThe 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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