Mortgage borrowers trapped on interest rates of more than 5% say they are “disappointed, distressed and betrayed” after MPs voted against a cap on how much lenders can charge.
The pound plunged today after the Bank of England said that it will engage with regulators to implement negative rates.
Bank of England is considering pros and cons of drastic move as Covid-19 weighs on economy
The Bank of England has announced an emergency cut in interest rates to shore up the economy amid the coronavirus outbreak.
Mortgage borrowers "unfairly trapped" on high interest rates when their lenders were nationalised are launching legal action against the companies they say are responsible.
More young people are opting to overpay, cutting the term of their house or flat loan
A competitive market in 2018 means that remortgaging has reached its highest rate for a decade as home owners have had access to a range of deals.
The Bank of England has indicated there could be a faster pace of interest rate increases if the UK manages a smooth exit from the European Union.
Number of mortgages approved drop by 4.3% to 39,584 compared with a year ago
First-time buyers face an extra bill of £1,000 per year when they come to remortgage as rising interest rates start to ramp up the cost of borrowing.
The UK looks set to face another 20 years of rock-bottom interest rates, Bank of England policymaker Ian McCafferty has said, a week after the central bank took its first steps in returning rates back to pre-financial crisis levels.
The Bank of England on Thursday raised its base rate for only the second time in a decade, inching it up from 0.5% to 0.75%. What impact will it have on your mortgage, savings and the property market?
The Bank of England has raised the interest rate for only the second time in a decade.
The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% - the highest level since March 2009.
Homebuyers tentatively returned to the market this summer as low interest rates and a slowdown in price rises ease pressures on property affordability.
An August interest rate rise lurched back into view on Thursday as the Bank of England’s chief economist Andy Haldane switched sides to join the hawks pushing for tighter rates.
Britain could face 20 years of rock-bottom interest rates as economists believe desperate saving by people in their 50s and 60s will create a glut of cash that forces down market rates.
Bank rate rise could cost average homebuyer an extra £138 each month on £175,00 mortgage
Interest rates might not rise next month after all, Mark Carney has said, surprising investors who were almost certain of a hike to 0.75pc.
A lack of activity in the UK housing market could make it more difficult for Bank of England policymakers to raise interest rates, surveyors have said.
There has been widespread speculation of a potential increase in the Bank rate in May from its level of 0.5%.
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