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Further rate mortgage rates cuts to come

Despite the Bank Of England&#39s decision to maintain the base rate at 5 per cent, IFAs are predicting further rate cuts before the year is out.

London & Country Mortgages senior manager Patrick Bunton predicts: &#34Rates may possibly change by the end of the year but I do not think they will change for a few months.&#34

John Charcol technical manager Ray Boulger says: &#34It was no major surprise the monetary policy committee didn&#39t change the rate. But I expect more cuts this year by at least 0.25 per cent if not by 0.5 per cent.&#34

Bunton believes the MPC decision will help bring some stability to the housing market. He says: &#34The market is busy at the moment and if interest rates continued to fall the market was in danger of overheating.&#34

He points to property inflation showing some real extremes with some extraordinary price increases in some areas of the market skewing the overall average.


Norwich Union warns investors to beware of no Cat-marked Isas

Norwich Union Investment Funds is warning investors to beware of non Cat-marked Isa funds.It says &#39ignoring the benefits of Cat standards could mean losing the performance race before it has even started&#39.NUIF bases this comment on figures compiled by Fitzrovia for its NU Isa league. The league claims that on average investors would only have […]

Portman Building Society launches high rate cheque account

Portman Building Society is launching a new high interest cheque account with £250 cheque guaranteed card.The Prestige Gold Account has a minimum investment of £10,000.The interest rate for investments up to £19,999 is 3.50 per cent a year gross, this increases to 4 per cent gross for £20,000 to £29,999, 4.75 per cent gross for […]


Aberdeen advises Pep investors to take stock of their portfolios

Aberdeen Asset Management is advising investors to take stock of their Pep portfolio’ to ensure they are meeting their requirements. Despite being put on the back-burner with the introduction of Isas, there is an £80bn forgotten market tucked away in Peps according to Aberdeen. Many of these Pep investments are no longer meeting the investors […]

Cancer responsible for half of critical illness claims

Cancer is responsible for 50 per cent of all claims on critical illness plans according to a report from ERC Frankona.The re-assurer&#39s annual survey shows that cancer is the main area for claims on policies and these are split fairly evenly between males and females.Heart attacks were next on the list of most prevalent claims […]


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