• UK house prices down 0.9%

    The average asking price of a property throughout England and Wales has fallen by 0.9% according to figures released today by Rightmove.

    The average price tag of a home listed on the property website now stands at £307,824, down by £2,647 from June.

    Whilst asking prices have stuttered somewhat, Rightmove says it usually expects a drop of 0.4% in July, as many prospective buyers and sellers take time away. Backing up this footnote for July’s drop in prices, it revealed that year-on-year prices have risen 4.5%, compared to the same month in 2015.

  • Base rate held, but for how long?

    The Bank of England has today held their Base Rate of interest at 0.5%, following the monthly meeting of their Monetary Policy Committee today.

    With many market commentators predicting a reduction in Base Rate following last month’s Brexit vote, the MPC voted 8-1 in favour of keeping Base Rate at 0.5%.

    Base Rate has held at 0.5% since March 2009, in the aftermath of the global financial crisis.

  • Contractor remortgages are clear winners so far following Brexit

    As the dust clouds start to clear a little following last week’s referendum result, clear casualties of the UK’s vote to leave the EU have emerged.

    Whilst the media focuses on the tattered reputations of the leaders of the UK’s two largest political parties, the value of sterling has taken a battering, and the value of UK’s banks and housebuilders have also been subject to a severe kicking.

  • Base Rate set to fall to zero

    An economist at investment bank UBS has suggested that the Bank of England’s Base Rate of interest could fall to 0% by the end of the year, following last week’s Brexit vote.

    David Tinsley said that the UK’s vote to leave the EU indicated “sharply lower growth, a large drop in the pound, and further easing from the Bank of England” in the next six months.

  • Brexit impact on contractor finances

    Following the decision to leave the EU, attention has turned to what happens now. The uncertainty around stock prices and sterling were anticipated, but the implications for contractors across the UK are unknown.

    The full impact of the Brexit is not something we will know overnight, but for now we analyse the immediate effect on contractor mortgages, protection and wealth.

    Mortgages

  • Making tax efficient mortgage choices

    Many contractors have benefitted in the past by choosing an offset mortgage product. This type of product is an ideal option for someone with substantial savings.

    An offset mortgage allows borrowers to link their mortgage with a savings account, where funds can be withdrawn or deposited at any time. The lender takes in to account the amount held in savings and deducts this by the mortgage debt before calculating the interest that needs to be paid.

  • The perils of price comparison websites

    Many consumers thinking that they are taking steps to protect their family are actually ending up with inadequate or even invalid cover, according to a leading market commentator.

    While many people are taking steps to research protection options, price comparison websites are not necessarily the right place to start, according to Andy McBride, Business Development Director at Contractor Mortgages Made Easy.

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