UK Finance News

So far Northern Rock has not managed to pass on the Bank of England’s quarter
per cent base rate cut to variable rate customers - those on 7.59%.
Whilst the emperor’s clothes of interest rates have become apparent to the wider public - that banks base their borrowing on LIBOR, not the BoE base rate - and [...]

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Proving that lenders who rely on the markets for funding don’t actually react to Bank of England interest rate cuts, the Nationwide was last night set to raise it fees and fixed rates.
As well as capping mortgages at £1m, fees for their 5-year product will rise by up to £200 to nearly £700 with a rate [...]

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First Direct have become the latest bank to close it’s doors to new mortgage customers. The bank will no longer offer mortgages to anyone other than existing customers, following an increase in applications for its home loans as other lenders raise their rates.
Several other lenders including Nat West and Scottish Widows raised their rates  yesterday [...]

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It has now been several weeks since the big guns of the mortgage lending world stripped down those enticing deals from their poster boards and pulled products faster than a hyperactive shoplifter.
But now the smaller building societies are following suit - initially these smaller ships
appeared to have weathered the storm; their own positions being more [...]

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The coming long bank holiday weekend may be slightly quieter than other years as homeowners lay down their power tools and take a financial step backwards before considering the next DIY project.
Irrespective of the recent budget the last six months has been hard on the pocket and big
plans for home improvement have had to join [...]

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