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Welcome to MFB-TV on Tuesday 18th October 2011. Well it is two weeks nearly since Base
Rate did not move yet again and has been maintained at 0.5%. But at that time the governor of
the Bank of England announced a second round of quantitative easing of £75 billion supposedly
to protect against a reduction in the rate of inflation in the short term. So when the
news came out today that inflation has reached a whopping 5.2%, we thought it was time to
go to air and share our views with you. And in fact, our views are encapsulated in our
quarterly newsletter which came out online today and is available electronically to you.
And this is what it looks like: FirstRate Q3 2011. In it you’ll find our views on
the market; what lenders are doing and what products are available and like all such documents,
it hardly goes to print before it goes out of date. So, just to give you an idea, the
product on the back page with a two year fixed rate at more than 4% is now being replaced
by a new one at 3.65% fixed until 1st December 2013 with an incredible flat fee of £2,495
which helps those of you with larger borrowings. With a respectable ERC of only 2.5%, it’s
well-worthy of your attention if you want to borrow up to 70% of the value of your buy
to let. For details of this and all our other offerings, do go online to the website or
phone your broker now on 0845 345 6788.