As another Middle East country looks like it has undergone a regime change things in the UK seem to be quiet for once. Oil prices have fallen on the expectation that the end of the Libyan conflict could mean a return to oil production soon which should in time play through to inflationary figures.
Not that inflation is worrying the Bank of England as all 9 members of their committee that sets interest rates decided unanimously to keep rates on hold last month. This represents a small sea-change as at one stage at least 3 of the members were voting for an immediate rise, (although the main protagonist calling for rises has now left the committee of course).
Posted in Bank Base Rate, Best Fixed Rates, Best Mortgage Rates, Coreco, Independent Mortgage Advice, Inflation, Large Mortgage Loans, Mortgage Brokers in London, The Economy | Also tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, Economy, Monetary Policy Committee, Mortgage Broker in London, Oil Prices, Stagflation |
Faced with the barrage of news headlines in almost every paper today about raging inflation leading to soaring interest rates, we thought it was prudent to bring a sense of calmness to the media storm.
The question we have been asked most lately is whether to fix or not and I have for a long time now stated that I believe more people should be seeking the sanctuary of fixed rates than actually have done.
Evening Standard at the centre of the media storm
Posted in Bank Base Rate, Best Mortgage Rates, Coreco, Independent Mortgage Advice, Inflation, Large Mortgage Loans, Mortgage Brokers in London, Mortgage Rates, Professional Mortgage Brokers, The Economy | Also tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, Large Mortgage Loans, Mortgage Broker in London, Mortgage Rates, The Economy |
I am reliably informed that today is considered to be the unhappiest day of the year, but if you are feeling a bit blue then spare a thought for the Governor of the Bank of England who is now under intense pressure from two camps following last week’s decision to keep interest rates on hold.
On one side, as inflation continues to stick and looks set to top the 4% level, he is in danger of losing credibility if he is not seen to be controlling inflation and raising interest rates.
Posted in Bank Base Rate, Best Fixed Rates, Coreco, Economic Recovery, Large Mortgage Loans, Monetary Policy Committee, Mortgage Brokers in London | Also tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, Large Mortgage Loans, Mortgage Broker in London, The Economy |
There has been alot of press recently about the fact tracker rate products are more “popular” than fixed rates and whilst this is undoubtedly the case, could this be a big problem in the making?
It is of course no surprise that in recent times the popularity of the fixed rate product has waned as people come to terms with the financial environment. The “as cheap as possible please” line has been even more popular than usual as not only have many clients expected that Bank Base will stay low, but also that low tracker rates now are a shot in the arm to many, helping to keep the wolf from the door.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
