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The Bank of England’s MPC announced today that the UK Bank Interest Rate is to remain at an all-time low of 0.5%. This is the sixty eighth month in which the Monetary Committee has met and voted to keep the rate at 0.5%. The Bank of England cut interest rates
David Cameron has said it would be “lovely” for interest rates to remain at historic lows “forever” because it will allow families “to buy the homes they can afford”. The Prime Minister said that Britain’s low interest rates are “good news” because it has made owning a home more affordable.
It’s an exciting time to be a peer to peer (P2P) lender. The announcement from the Government last week that they are a launching a consultation into extending ISA eligibility to include P2P lending will provide a boost to an already thriving sector. If agreed, the newly-created P2P ISA will