Expectations of a May rate rise have been dampened after UK GDP growth fell to 0.1% in the first quarter of 2018, compared to growth of 0.4% in Q4 2017. The ONS says UK GDP growth is now at its slowest since Q4 2012, with construction being the largest downward pull on GDP, falling by 3.3%. It added that the snow over Q1 only had a small impact on construction and retail sales, with "very little impact observed in other areas of the economy.
Legal & General has launched a new critical illness upgrade option, available via intermediaries and advisors. Clients taking out CIx are provided with an offering which includes the same protection provided by Legal & General’s standard critical illness cover and supports 95 conditions in total. CIx comes as part of a continuing improvement and adds further choice to the CIC range, including the recently launched optional Children’s Critical Illness Extra, and GP24 virtual GP service. Nurse Support Services continues to be of potential benefit and will continue to be included for all critical illness customers.
Much of it relates to refinancing activity of one sort or another. Remortgages alone were worth about £100 billion last year and this figure is likely to have been matched, maybe even exceeded, by product transfers. So, a fantastic advert for the highly competitive nature of our mortgage market and the huge benefits that lenders and brokers provide UK consumers.