Should UK House Buyers Take Advantage of Historically Low Interest Rates, Or Wait?

Whether you are thinking about buying your first home in the UK or you are planning to expand or downsize, it is to your advantage that you take a closer look at the current market conditions. Interest rates on home mortgages in the UK are at historically low levels and normally you may be wondering how long the interest rates will stay this low or if they will go even lower in the near future.
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Arrears and repossessions still falling, reports CML

According to the CML (Council of Mortgage Lenders) there is a continuing reduction in both mortgage arrears and repossessions for the third quarter of 2014.
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Prospect of rising interest rates to impact landlords

With the UK buy to let market currently experiencing a shortage of property caused by exceptional demand, many landlords have looked to take advantage of historically low interest rates to expand their portfolios.
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UK Interest rate kept at 0.5% by Bank of England

[caption id="attachment_9550" align="aligncenter" width="464"] Mark Carney - Bank of England Governor[/caption] The Bank of Englands Monetary Policy Committee (MPC) again decided to leave the UK Interest Rate at 0.5% - this being initially introduced back in March 2009. This is inline with the monetary policy forward guidance promoted by Mark Carney, the new Governor, and announced alongside the August 2013 Inflation Report. It has been said that unemployment needs to fall below 7% before any increase in interest rates. The record low interest rates are one of the factors in the current buoyant housing market and will be welcome news for most property investors. It is further good news as Mr Carney has previously indicated that he forecasts that it will take about three years for unemployment to reach this target. The MPC also voted to maintain the stock asset purchase financed by the issuance of central bank reserves, better known...
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Bank Maintains Base Rate and sends warning to the markets

The Bank of England today announced that it will be keeping the record low interest rates at 0.5% and to keep the level of its quantitative easing programme. You may have thought this would not be a suprise being widely viewed that low rates would continue through 2013. Yet with several factors indicating positive economic factor and sign of recovery the markets were assuming that it would start raising rates soon. However post the first meeting of the Monetary Policy Committee with new Bank governor Mark Carney, the bank has said the the recovery "remains weak by historical standards and a degree of slack is expected to persist for some time...the implied rise in the expected future path of Bank Rate was not warranted by the recent developments in the domestic economy,". This is possibly the first sign of the new governors preferred approach of forward guidance, where the bank...
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Bank of Engalnd maintain Bank Rate

[caption id="attachment_4688" align="alignright" width="347"] Bank of England Keeps Interest Rates Low![/caption] The Bank of England has announced that it will maintain the record low interest rates at 0.5%. This low rate was first introduced back on 5th March 2009 and there have been a number of predictions in recent times that the rate may increase. However the incoming governor has given strong singles that the British public can expect these low rates to continue for some time. The Bank also agreed to maintain the stock of asset purchases financed by the issuance of central bank reserves, known as Quantitative Easing (QE), at the current level of £375 billion.
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Bank Interest Rates remain at all time low

The Bank of England’s Monetary Policy Committee voted last week to maintain the official Bank Rate paid on commercial bank reserves at 0.5%.   This continues the record low interest rates for yet another month, making this the 47th month. Experts widely predict that with the frozen economy the Bank is likely to keep them at this all time low for a number of years still. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.
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0.5% remains for Interest Rates, £75bn more for the Economy

The Bank of England today took the decision to inject a further £75bn into the UK Economy via its programme of quantitaive easing (QE). This is in addition to the £200bn it has already pupmed into back in 2009. The Bank was widely expected to take some form of action either this month or next month after further economic data was released. However it looks like the data for the UK economony, showing that it grew by 0.1% - less than previously thought, caused a decision this month. Bank of England injects further £75bn into economy "In the United Kingdom, the path of output has been affected by a number of temporary factors, but the available indicators suggest that the underlying rate of growth has also moderated," the Bank said in a statement. Interest Rates The Bank also decided that it would keep the historic low interest rates at 0.5%, something at...
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