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CML rejects consumer over-spend claims

Mortgage providers have dismissed industry watchdog concerns that homebuyers are overstretching themselves by borrowing too much.

The Council of Mortgage Lenders says the latest figures on mortgages showed homebuyers had not increased the amount they borrowed compared to the value of their house.

The CML said in February the average first time buyer borrowed 78 per cent of the value of their home, unchanged from the figure reported in January and down slightly from the 80 per cent reported in February last year.


National Insurance

In this Budget the cut in the employer&#39s NI rate from 12.2% to 11.9% from April 2001, announced in the November 1999 Pre-Budget Report, has been confirmed. A further reduction of 0.1% to 11.8% from April 2002 has been proposed.In the last Budget the Chancellor announced substantial changes to National Insurance to take effect from […]

North South housing divide may be closing

The latest survey by the Royal Institution of Chartered Surveyors shows the first signs the North-South gap in house prices may be starting to close.Over the last month there has been a sharp upturn in the property market in the North West and Yorkshire & Humberside, with further strengthening in the Midlands and Wales. Even […]

B&B probes consumer opinion

Bradford and Bingley has commissioned a poll of its customers to find out their views on its conversion plans.The poll comes at a time when predicted windfalls have fallen from £1,000 to £600 and has sparked claims that the poll was designed to whip up members support for conversion ahead of the vote on its […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]


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