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09/11/2006
Interest rate rises to 5%
Mortgage repayments and loans will rise for millions of homeowners on the Bank of England's decision to raise interest rates.
As was widely expected, interest rates rose by 0.25% to 5%, the highest rate in five years.
The hike in the interest rate is an attempt by the Bank's Monetary Policy Committee to curb rising inflation rates. While the government target for inflation is 2% the inflation rate has recently exceeded this figure.
It is anticipated that to keep inflation under control there may be a further rise in interest rates early in the New Year.
(SP/KMcA)
As was widely expected, interest rates rose by 0.25% to 5%, the highest rate in five years.
The hike in the interest rate is an attempt by the Bank's Monetary Policy Committee to curb rising inflation rates. While the government target for inflation is 2% the inflation rate has recently exceeded this figure.
It is anticipated that to keep inflation under control there may be a further rise in interest rates early in the New Year.
(SP/KMcA)
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05 April 2007
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
16 January 2007
Cooling house prices after interest rate hikes
The latest figures on house price rises show that the market has cooled following the November interest rate rise.
Cooling house prices after interest rate hikes
The latest figures on house price rises show that the market has cooled following the November interest rate rise.
12 October 2009
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
19 April 2005
ONS reports inflation rate rise
The rate of inflation in the UK rose to 1.9% last month, a jump from 1.6% in February, the Office of National Statistics (ONS) has reported. The ONS said that the rate had risen because of stronger price increases for transport, food, furniture and clothing.
ONS reports inflation rate rise
The rate of inflation in the UK rose to 1.9% last month, a jump from 1.6% in February, the Office of National Statistics (ONS) has reported. The ONS said that the rate had risen because of stronger price increases for transport, food, furniture and clothing.
12 October 2004
Drop in cost of travelling drives inflation rate down
Inflation fell by 0.2% to 1.3% in September due in part to reductions in the cost of transport services, the Office of National Statistics (ONS) has said. The ONS said that the seasonal price drop in both air and sea fares from high summer levels drove inflation down as, in both cases, the reductions were greater than last year's.
Drop in cost of travelling drives inflation rate down
Inflation fell by 0.2% to 1.3% in September due in part to reductions in the cost of transport services, the Office of National Statistics (ONS) has said. The ONS said that the seasonal price drop in both air and sea fares from high summer levels drove inflation down as, in both cases, the reductions were greater than last year's.
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