It has been announced that the base interest rate is to remain on hold at its all time low of just 0.5 percent for the month of January. The announcement was made by the Bank of England following the January Monetary Policy Committee meeting earlier this week. The base rate has been at 0.5 percent since March of last year, and this is the lowest it has ever been in the history of the Bank of England, which goes back over three centuries. Read the rest of this entry

Just a couple of years ago the crippling base interest rate in the UK meant that many homeowners were unable to keep on top of sky high mortgage repayments, and many others had to default on other unsecured debts in order to ensure that they could keep on top of their mortgage repayments and avoid losing their homes. Read the rest of this entry