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MPC “keeps its power dry” with rate deci

MPC “keeps its power dry” with rate decision

The Bank of England’s Monetary Policy Committee (MPC) has voted to maintain the Bank Rate at 0.75%. The nine-member committee voted 7-2 to hold the rate. Jonathan Haskell and Michael Saunders voted to lower the Bank Rate, believing the weakening economy called for cheaper borrowing. Alex Maddox, capital markets and digital director at Kensington Mortgages, […]

Bank of mum and dad ‘one of UK’s biggest

Bank of mum and dad ‘one of UK’s biggest mortgage lenders’

Parents spend so much money to get their children onto the housing ladder that they are now among the biggest lenders in the UK, a survey suggests. The average parental contribution for homebuyers this year is £24,100, up by more than £6,000 compared to last year, according to Legal & General (L&G). Collectively parents have […]

Lenders decline a third of customers usi...

Lenders decline a third of customers using comparison sites – Experian

Lenders reject 33 per cent of customers as they do not meet their full lending criteria, according to data from Experian. Its analysis also found that just 3.5 per cent of people searching for a mortgage were eligible for every deal on the market. According to Experian, 22 per cent of those using pre-qualification comparison websites […]

Buying vs renting – which is cheaper?

Buying vs renting – which is  cheaper?

The gap is closing but who is better off by £366 a year – tenants or homebuyers? The gap between the cost of buying a home and renting one is down 59%, to its lowest level in nine years, according to Halifax. Buyers are now saving an average £366 a year compared to renters, down […]

Government unveils strict landlord rules...

Government unveils strict landlord rules for electrical safety

Landlords offering private rental accommodation will have to comply with new rules for electrical inspections, or face ‘tough financial penalties’ under government plans. Mandatory electrical checks must in future be carried out by competent and qualified inspectors, housing minister Heather Wheeler said. The rules are designed to give tenants better protection and keep people safe […]