UK Finance News

UK bank HSBC has declared that the housing crash is over and promised to lend £500million to potential buyers applying for a 90% mortgage.
The announcement from HSBC came with accusations that other UK banks and building societies are not doing enough to open up mortgage finance.  The HSBC said, “While other lenders were in retreat, [...]

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National Savings & Investments (NS&I) are to raise the their prize payout figure from 1% to 1.5% in October, to attract more savers to its Premium Bond product. The increase will mean an increase in the prize fund from £33.8million to £52.5million.
The prize rate is normally kept in line with the Bank of England interest [...]

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The Bank of England (BoE) have left interest rates unchanged at the record low of 0.5% for the six month running, with financial experts predicting that it will remain unchanged for the remainder of 2009.
The Bank will also continue with its current £175billion asset buying programme which was increased from £125billion last month.
Some strategists had [...]

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UK bank HSBC has made the surprise announcement that it has introduced a two year fixed rate mortgage that charges just 1.99%, representing the second lowest rate ever made available for purchasing a new home.
In 2006 Portman Building Society briefly offered a 1.95% deal, but was overloaded with small print clauses that tied customers to [...]

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Interest rates charged by Building Society’s and Banks on fixed rate mortgages rose by an average of half a percent between June and July this year, making the highest level this year.
The average rate on a five-year 75 percent loan-to-value mortgage taken out in July rose  to 5.7 percent, its highest level since October. Similarly [...]

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