More than two-fifths (44%) of remortgagors consulted an independent adviser or broker in April, up from 39% in March and 36% in February.
Almost half (45%) of those who planned to buy a property since the introduction of MMR have failed to do so. A quarter of the 1,500 surveyed claim that the MMR has impacted their ability to buy a property, while a further third (37%) report that the changes have made them feel less in control of securing a mortgage, according to research by Experian.
Discounts available under the Right to Buy were increased in 2012, and currently stand at a maximum £77,900 outside London and £103,900 in the capital.
In the minutes of the latest Monetary Policy Committee meeting, the committee said that "based on information from OIS rates, an increase in Bank Rate to 0.75% was now fully priced in by May 2016, around one quarter earlier than at the time of the April MPC meeting". Inflation was judged likely to remain close to zero in the very near term, reflecting past falls in energy, food and other import prices and some continued drag from domestic slack.
The Consumer Prices Index fell by 0.1% in the year to April 2015, compared to no change (0.0%) in the year to March 2015. This is the first time the CPI has fallen over the year since official records began in 1996 and the first time since 1960 based on comparable historic estimates.