Highlight text to annotate itX
Welcome to MFB-TV on Monday 11th June. First of all, please excuse my unusual attire as
I am off to a luncheon in the City of London where I’m presenting an award to the best
national valuer at The Bridging and Commercial Finance Awards. And then rolls on to European
football, and probably the less said about that the better! Which is almost the same
about the European economy generally, when this week crisis is of course the Spanish
banks and their bail our over the weekend, which, for the moment, seems to have stabilised
the markets. This week is Bankia is the problem, but who
knows, perhaps next week it will be the Italians. I was amused by a comment from Ray Boulger
of John Charcol who pointed out whilst Christine Legarde from the IMF was castigating the Greeks
for not paying tax, her own salary package within the IMF attract no tax at all. Of course,
it is one rule for the leaders and Eurocrats and another set of rules for the rest of us.
But hei-ho, back to reality in here in the UK and last week the MPC kept bank base rate
at 0.50 per cent, perhaps to fight the request from Ms Legarde and her colleagues for us
to cut it even further. QE remains at £325bn, and you can hardly blame the Bank of England
for holding out and for not change at the moment whilst we wait to see what happens
in the European swamp. The positive outlook from this somewhat mixed
issues, is that SPAW rates here in the UK have reached all time lows, so perhaps now
it is time to look at fixed rates. And here is our call for the week: a 2 year fixed at
3.44% (APR 4.9%), more accurately until the 31/08/2014. Albeit it has a 2.5% fee, but
they will go up to £1m loan at 60% loan to value and 75% loan to value for £500,000.
There is even a £500 cashback if you take the lender’s conveyancing package, so all
in all a package that may be worth looking at.
For this and all other new deals on our systems, please phone us now on 0845 345 6788