by Alec Hanson - Just Do Property Host | 23 Jun 2019
Central bank of the United Kingdom. Issues banknotes and sets interest rates and monetary policy via the MPC. Synonym =...
by Alec Hanson - Just Do Property Host | 23 Jun 2019
The Committee that controls the setting of the Bank’s Base Interest Rate although the Government has the power to give instructions to the Bank on interest rates for a limited period. It meets monthly. The rate set is the ?Repo’ rate ? the base rate which...
by Alec Hanson - Just Do Property Host | 23 Jun 2019
Electronic funds transfer which is free of charge and takes 3 days -> They are entered into the system on the first day processed on the second day and cleared on the third day. A Faster Payment alternative is also available that can be instant but may have to be...
by Alec Hanson - Just Do Property Host | 23 Jun 2019
A physical document like a cheque however the money has already been debited straight from the account. The person receiving the bankers draft is therefore confident the money is safe and does not have to wait for clearing. There is normally an administration fee to...
by Alec Hanson - Just Do Property Host | 23 Jun 2019
This rate is set by the Bank of England and is used as a benchmark for lenders to set interest rates by. It represents the lowest rate of interest a bank will charge you when it lends you money. It is reviewed monthly and can go up and as well as...
by Alec Hanson - Just Do Property Host | 23 Jun 2019
The purchase price agreed below the market value or the property usually expressed as a percentage 20% 25% or 35% Below Market Value. The Value could be vendor estate agent or RICS surveyor valuation however the true BMV will be off the RICS valuation only. Synonym =...
