The prospect of a new cut in interest rates increased when the Bank of England’s monetary policy committee minutes were released. The minutes showed that all members of the committee unanimously voted to reduce the cost of borrowing earlier this month, when the BoE dropped rates by 0.25 perRead More →
Public confidence in the housing market is higher than at any point since September 2014 and the Northern Rock bail-out, a survey from propertyfinder.com found. Around 60 per cent of respondents thought house prices would rise by May 2017, while 32.5 per cent thought prices would fall and aRead More →
The Chancellor should double the tax relief on income made from renting out a spare room when he delivers his pre-Budget report on 9 December, according to the National Landlords Association. The NLA hopes that Alistair Darling can be persuaded to raise the tax-free ‘rent-a-room’ thresholdRead More →
The Office of Fair Trading (OFT) launched a consultation today on draft guidance for businesses engaged in second charge lending. The draft guidance sets out the standard of behaviour the OFT expects from businesses engaged in second charge lending and covers issues such as customer care, advertising and sellingRead More →
The head of Southern Housing Group – one of the UK’s largest housing associations – has warned that the shortage of lenders has made it hard for housing associations to plan developments, and is threatening the government’s housing target. Tom Dacey said that at the peak of the housingRead More →
For the second time in three months the government has promised a bank bail out to get banks lending again and ‘insure’ bad debts. The scheme, under which taxpayers would foot the ‘potentially unlimited’ bill, is intended to cover bad debts and guarantee loans for homeowners and businesses. OtherRead More →
The Royal Institution of Chartered Surveyors (RICS) has released a report today showing that house prices fell last month for the first time in nearly two years. Demand is also falling, with the number of new buyer inquiries declining for the ninth consecutive month and at the fastest paceRead More →
Lender Britannia has boosted the mortgage market after introducing a new home loan offering 90 per cent loan to value. Available from today, the two-year fixed rate mortgage requires only a small deposit, seen as essential to help first-time buyers into the market. Nationwide has also announced it isRead More →
Gordon Brown yesterday attacked Conservative plans to shake up City regulation, claiming that handing banking supervision back to a beefed-up Bank of England was ‘completely wrong’.The prime minister fiercely defended the tripartite regulatory system he created in 1997, when the Bank’s former role of overseeing banks was transferred toRead More →
Chief executive for the National Debtline warns that millions of households struggling with debt could be unlikely to access independent advice because charities are so overwhelmed they can only answer half the calls received. Joanna Elson speaking at the Building Societies Association conference was trying to drum up supportRead More →