NATWEST to change the rules again of mortgages

Natwest Sign

NatWest Intermediary Solutions will be implementing the requirements of the European Mortgage Credit Directive from mid-January 2016, two months ahead of the 21 March deadline. It will begin using the new ESIS documentation, to be known in the UK as the Mortgage Illustration, from mid-January 2016, replacing the current KFI to help minimise any pipeline impacts. NatWest will be calculating the new Annual Percentage Rate of Charge and 2nd APRC in accordance with the guidance received from the Council of Mortgage read more

Bank of England NOT to raise rates until Summer 2017

Since the Bank of England's last Inflation Report in August, the path for Bank Rate implied by market rates has fallen by around 40 basis points, such that it only reaches 0.75% in 2017 Q2, compared with 2016 Q3 in August, and is just 1¼ by the end of 2018. The Bank of England admitted that it now seems more likely than not that inflation will remain below 1% until the second half of 2016, much later than judged likely when inflation first fell below 1% at the start of 2015. Recent falls in oil and other commodity read more