The Bank of England could receive powers to more effectively regulate the mortgage market, and dictate the loan-to-value (LTV) ratio lenders can offer. Such is the latest thinking from George Osborne, announced yesterday in a second reading of the Financial Services Bill in the Commons. Osborne said that the bill offers a part of the [...]
AWD Chase de Vere has been a trusted source of independent financial advice for over 40 years. In this article they tackle the dilemma faced by everyone trying to generate income in the current low interest environment: The UK Bank of England Bank Rate (formerly Bank of England Base Rate) has remained at just 0.5% [...]
New data from the Bank of England shows that mortgage approvals for home purchases were up in May over April, but remained behind March levels. The Bank said that 45,940 mortgages were approved in May, 1 percent more than the 45,447 approved in April when the drop in approvals was blamed on the extra holidays [...]
A member of the Bank of England’s Monetary Policy Committee has called for an increase in UK interest rates. In prepared remarks to be delivered at a Finance Directors’ Strategy Meeting in London, Martin Weale said that recent disappointing data has not changed his mind about where rates need to go. Mr. Weale said, “Although [...]
It was the 27th consecutive month that the Bank has left rates steady. The Bank’s Monetary Policy Committee, by keeping rates on hold, is betting that limits on economic growth will be more of a problem than inflation to the UK’s economy. Some have been urging that the Bank raise rates with inflation in the [...]
