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Bank holds base rate at 0.5% with no extension…

posted in category, Financial News on Thursday, May 10, 2012
The Bank of England’s Monetary Policy Committee has held the base rate at 0.50% with no extention to quantitative easing. The Bank’s total asset purchase programme remains at £325bn.

UK economy back in recession

posted in category, Financial News on Wednesday, April 25, 2012
The UK is back in recession after the economy shrank by 0.2% in the first quarter of 2012, according to figures from the Office for National Statistics. The fall is the second succesive quarterly fall, after GDP shrank by 0.3% in the last three months of…

No change to base rate or QE

posted in category, Financial News on Thursday, April 05, 2012
The Bank of England’s monetary policy committee has voted to keep base rate at a record-low 0.50% for the 37th consecutive month and to keep its programme of quantitative easing at £325bn. Base rate was cut to 0.50% in March 2009, on the same day the…

Budget 2012 15% stamp duty for £2m homes bought…

posted in category, Financial News on Wednesday, March 21, 2012
The Chancellor has confirmed in the Budget that homes worth more than £2m will face a new Stamp Duty rate of 7%, with 15% levied on homes over £2m bought through a company. The 15% stamp duty will be effective immediately and aims to close down…

UK inflation falls to 3.4%

posted in category, Financial News on Tuesday, March 20, 2012
The UK consumer prices index has fallen to 3.4% in February, according to the Office for National Statistics. The consumer prices index is down 0.2% from 3.6% in January. The retail prices index fell to 3.7%, from 3.9% in January. Inflation has fallen markedly since its…

Lenders lobby FSA to get round MMR advice plan

posted in category, Financial News on Monday, March 12, 2012
Lenders are believed to be lobbying the Financial Services Authority to exempt hundreds of their call centre staff from having to be CeMAP qualified to offer advice. The FSA’s final Mortgage Market Review consultation paper specifies that brokers and lenders will no longer be able to…

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