AMI calls for more after rate freeze - Mortgages - News - Moneyfacts


AMI calls for more after rate freeze

AMI calls for more after rate freeze

Category: Mortgages

Updated: 14/04/2009
First Published: 14/04/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Association of Mortgage Intermediaries (AMI) has called on the Government to provide more help for consumers following the decision to freeze interest rates at 0.5 per cent.

The Bank of England's Monetary Committee voted to maintain the level of the base rate last week, following six consecutive months of reductions.

Robert Sinclair, director at AMI, said that despite the Bank's decision, people with high loan-to-value mortgages, poor credit ratings or too small a deposit still needed assistance.

"The Bank of England has kept its hands in its pockets and said steady as she goes.

"We are now waiting for the Chancellor to grasp the tiller and provide direction for the UK mortgage market to help thousands of ordinary people trapped by the continuing lack of liquidity in the mortgage market," he added.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.

Fee-free mortgages on the rise

Mortgage rates may be at record lows, but for some people, the extra costs associated can make switching deals a financial impossibility. It’ll come as welcome news, then, that the number of fee-free deals has more than doubled over the past year!