Mortgage Industry

Rise in VAT ‘would cost households £425 a year’

A RISE in VAT would hit the poor, threaten jobs and lead to more expensive mortgages, union leaders warn today. The TUC criticised aVAT rise as one of the ‘least progressive’ ways the government could tackle its debts. And experts warn that it could cost the average household £425 a year. Ahead of next...

Loan Refused – Overweed in the Garden

A HOMEOWNER who wanted to remortgage his £400,000 detached house had his application refused – because of a weed in his garden, it emerged yesterday. Dave Williams, 42, wanted to borrow £83,000 but has been turned down after surveyors found Japanese knotweed in his flower beds. The bamboo-like weed can grow up to 3.6m...

Now that the dust has settled – Budget 2010 key points

UK Budget 2010 key points Here are the key points of Chancellor Alistair Darling’s 2010 Budget, the last one before the general election. FUEL, CIGARETTES AND ALCOHOL DUTIES 3p fuel duty rise to be phased in<http://news.bbc.co.uk/1/hi/business/8585352.stm> in three stages between April and January 2011 rather than in one go next month Cider duty to...

The Bank of England’s Monetary Policy Committee has voted to keep base rate at 0.5% this month, marking the one-year anniversary of record low interest rates. The MPC has also decided not to extend its quantitative easing programme beyond the £200bn it has already spent on buying up assets to boost the economy. Minutes...

Bank of England Base Rate Update

Bank of England Base Rate Update You may be aware that the Bank of England today decided to maintain the Base Rate at 0.5% for the 11th consecutive month. Mortgage rates have also remained stable over the initial 5 weeks of the year with a slight reduction in Fixed Rates, as lenders try and...