UK Money News
10th January 2008
John Charcol: Rate hold will cost homeowners £105m a month
The Bank of England decision to hold current interest rates will cost British variable rate mortgage holders an estimated £105 million a month, according to leading mortgage advisor John Charcol.
Despite the decision to hold the rate, John Charcol expect to see a fall in the price of fixed-rate mortgages soon. The firm advises consumers looking to compare mortgages to look at tracker options.
In response to today's finance news spokesperson Roy Bulger advised the monetary policy committee to look at the long-term effects of holding the current base rate.
"If the MPC delays the next cut too long Bank rate may have to fall further than would have been the case with an earlier cut," he said.
The firm expects to see a 0.25 per cent rate cut next month.
Many experts had encouraged a rate cut to reflect a downturn in the mortgage market and a scarcity of cheap personal loans.
However, a statement by Scottish Widows Investment Partnership maintains that "the decision to delay a rate cut looks sensible."
The pensions and investment provider cited an easing in the financial markets as justification for the rate hold.
back to January's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
