Articles
Inflation vs recession: Could the Fed cause a recession?
What happens in the US doesn’t always stay in the US. In fact, economic and financial events that unfold across the Atlantic can often be reliable – but not certain – projections of what will happen in the UK and other nations.
Six more interest rate hikes in 2022?
The Bank of England raised its base rate to 0.75% after the Monetary Policy Committee voted 8-1 in favour of another increase. When the base rate was increased to 0.5% in the previous meeting, it was the first back-to-back interest increase since 2004.
Switch mortgages to help against rising living costs
Now could be an optimal time to remortgage your current deal to get a better one, and combat against rising household expenses due to the reasons mentioned earlier, especially the projected rise in inflation. The savings you make from switching mortgage could counter any rising energy prices – and potentially much more.
Bank of England to help mortgage affordability
The Bank of England is deciding on whether to improve mortgage affordability by withdrawing its affordability tests on all mortgages taken out in the first six months of 2022. The Bank of England’s Financial Policy Committee will meet to discuss this potential strategy soon. This could make getting a mortgage easier for some aspiring homeowners, including first-time buyers and those purchasing property in the south.
£350 payment to help with rising living costs
Following the energy price cap increase and overall increases in the cost of living, the UK Government has announced up to £350 payments for each household. This is split into two payments of a £200 Energy Bill Rebate and a £150 Council Tax Rebate.
The £200 payment will be available to all households that pay for their electricity. The £150 payment will come in the form of a Council Tax Rebate and will be available to all properties in Council Tax bands A, B, C and D. This will mean an estimated 80% of all households will qualify for the £150 Council Tax rebate.
