Monthly Archives: December 2011

The Bank of England’s Monetary Policy Committee have again today voted to keep the base rate at its historical low of 0.5% and have also decided not to increase quantitative easing, currently standing at £275bn. 

Consumer Prices Index (CPI) inflation rate fell to 5.0% in October from 5.2% the previous month and although this is higher than the Government’s target, the instability of the worldwide economies continues to be the principal factor in the MPC’s decision-making. 

Many economists now believe that the Base Rate will remain at its current level for the foreseeable future.

I have found dealing with Parkgate was a very comfortable experience. After explaining what my requirements were, Parkgate were very efficient at finding the right product to suit my needs and give me information on future products to keep by budgets in line for short and longer term options.

 All in all a very good company who go that little bit further with their personal service, it shows a company cares when they go out of their way to find the more suitable options.

The Government has announced that it is no longer going to extend the stamp duty holiday for first-time buyers as it claims the policy has failed to increase the number of first-time buyers entering the market.

The Chancellor George Osborne has failed to extend the stamp duty holiday beyond its end date of March 2012, despite calls to do so from industry bodies such as the Council of Mortgage Lenders.

In the 2010 budget, then Chancellor Alistair Darling announced the stamp duty threshold would double from £125,000 to £250,000 for first-time buyers but announced an increase in the rate for properties worth more than £1m from 4 per cent to 5 per cent. The stamp duty holiday is due to end on March 25, 2012.

The autumn statement says: “The government is publishing analysis showing that the stamp duty land tax relief for first-time buyers has been ineffective in increasing the number of first-time buyers entering the market.

“This relief will therefore end on March 24 2012 as planned.