Michael Coogan, director general of the Council of Mortgage Lenders had this to say…“We expected the MPC to hold rates today as it wrestles to control rising inflation in a weaker economic outlook. But clearly there are still affordability pressures on borrowers and a widespread funding shortage for lenders. We hope that as the effects [...]
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Some wanted a cut in interest rates to boost spending, but most predicted that interest rates would be held at 5%, as indeed they have been. Last night, Peter Bolton King (Chief Executive of the NAEA) commented that more needs to be done to ease pressure in the housing market ahead of today’s decision. He [...]
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According to new figures released today by RICS’ Building Costs Information Service, the average cost of home improvement work has risen by 20% over the past two years. The main causes of this increase being rising prices of oil and raw materials combined with cheap Eastern European tradesmen returning home. As we reported a while [...]
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