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CML says mortgage rate has bottomed out

The Council of Mortgage Lenders is predicting that the mortgage rates will not be cut for several months.

The CML says that very few lenders will be able to pass on the benefits of the cut to their borrowers because they have already squeezed margins to breaking point.

Mortgage rates are at their lowest rates for nearly 30 years and the CML says this has been detrimental to retail savers.

Director general Michael Coogan says: &#34On this occasion borrowers may not see such a direct impact on their mortgage rates as many lenders will be seeking to minimise the effect of falling interest rates on retail savers.&#34


BWD Rensburg launches Isa

BWD Rensburg has launched its individual savings account while continuing to praise the merits of independent advice over Cat marks.The Isa will invest in the five top performing UK unit trusts. But it is not Cat marked.Head of marketing Alex Brotherstone says: &#34We are very positive and firmly behind Isas and believe they are eventually […]

ACA expresses concerns over stakeholder

The Association of Consulting Actuaries has expressed serious concerns about the effect of stakeholder and the state second pension on occupational schemes.The Association says the Green paper offered the opportunity to simplify a complex system but it has actually added another level to the complexity.It says that while the Government&#39s intentions are correct, stakeholder and […]


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