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Viewing entries posted in April 2018

Rate rise expectation dampened as GDP growth falls to five-year low

Posted by MMB Finance Swindon and Gloucester on 27 April 2018

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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.

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Legal & General launches Critical Illness Extra

Posted by MMB Finance Swindon and Gloucester on 26 April 2018

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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.

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Which firms topped the FCA's mortgage complaints list?

Posted by MMB Finance Swindon and Gloucester on 22 April 2018

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Blemain Finance, Kensington, and Charter Court Financial Services topped the home finance category of the FCA's latest complaints data for H2 2017. Blemain received 43.1 complaints per 1,000 balances outstanding, followed by Kensington with 41.12 and Charter Court with 33.9. In total, the FCA received 3.76 million complaints about financial services firms in the second half of 2017, a 13% increase on the previous year, driven mainly by complaints about PPI.

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Markets price in 85% chance of a May rate rise

Posted by MMB Finance Swindon and Gloucester on 17 April 2018

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Markets are now pricing in an 85% chance of a rate rise as new wage figures from the ONS reinforce expectations the Bank of England will lift interest rates at its May policy meeting. The ONS data shows that wages are growing at their fastest rate in nearly three years and the unemployment rate fell to 4.2%, its lowest rate since 1975.

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Approaching the limits to lending growth?

Posted by MMB Finance Swindon and Gloucester on 14 April 2018

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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.

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