Small Business Loans
12th April 2010
We have added a new page to the website - Small Business Loans. This deals specifically with loans for small business owners.
Small businesses often get a raw deal from the banks. That's where Yes Business Loans can step in and help.
New Yes Business Loans blog now online
12th April 2010
The new Yes Business Loans Blog is now online and being updated. Keep in touch with the latest news from the business loan world online via our blog.
Bank of England Maintains Bank Rate at 0.5%.
9th April 2009
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to continue with the programme, announced on 5 March, of asset purchases totalling £75 billion financed by the issuance of central bank reserves.
The Committee noted that since its previous meeting a total of just over £26 billion of asset purchases had been made and that it would take a further two months to complete that programme.
Bank of England Reduces Bank Rate by 0.5 Percentage Points to 0.5% and Announces £75 Billion Asset Purchase Programme.
5th March 2009
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 0.5%, and to undertake a programme of asset purchases of £75 billion financed by the issuance of central bank reserves.
World activity continued to weaken, reflecting both depressed confidence and the persistent problems in international credit markets. In the United Kingdom, output dropped sharply in the fourth quarter of 2008. That reflected lower consumer spending, a further fall in business investment and a rapid run-down in stocks, in part offset by stronger net exports as the past depreciation of sterling began to take effect. Business surveys continue to point to a similar rate of contraction in the early part of this year. Unemployment has risen markedly. Credit conditions faced by companies and households remain tight.
Bank of England Reduces Bank Rate by 0.5 Percentage Points to 1.0%.
5th February 2009
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.0%.
The global economy is in the throes of a severe and synchronised downturn. Output in the advanced economies fell sharply in the fourth quarter of 2008, and growth in the emerging market economies appears to have slowed markedly. Business and household sentiment in many countries has deteriorated. The weakness of the global banking and financial system means that the supply of credit remains constrained.
Bank of England Reduces Bank Rate by 0.5 Percentage Points to 1.5%.
8 January 2009
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.5%.
The world economy appears to be undergoing an unusually sharp and synchronised downturn. Measures of business and consumer confidence have fallen markedly. World trade growth this year is likely to be the weakest for some considerable time.
UK retail sales rose unexpectedly last month, official figures have shown.
18th December 2008
Total sales volumes have climbed 0.3% in November from the previous month, the Office for National Statistics said. Sales were up 1.5% from a year ago.
Analysts had been expecting sales to fall in November, and recent surveys have suggested trading is weak. The rise in monthly sales was led by household goods, which were up 3.9% in November - their biggest monthly increase since July 2007.
Food sales were up 0.2% for the month, while those of clothing and footwear were down 0.1%.
The level of overall retail sales made via the internet was 3.8%, up from 3.2% in October.
Bank of England Reduces Bank Rate by 1.0 Percentage Points to 2.0%
4th December 2008
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.0 percentage points to 2.0%.
Bank of England Reduces Bank Rate by 1.5 Percentage Points to 3%
6th November 2008
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.5 percentage points to 3%.
Bank of England Reduces Bank Rate by 0.5 Percentage Points to 4.5%
8th October 2008
The Bank of England's Monetary Policy Committee today voted at a special meeting to reduce the official Bank Rate paid on commercial bank reserves to 4.5%.
Bank of England Maintains Bank Rate at 5.0%
10th July 2008
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 5.0%.
The previous change in Bank Rate was a reduction of 0.25 percentage points to 5.0% on 10 April 2008.
Buy to Let Loans demand continues
June 2nd 2008
Paragon says that a key contributory factor to the buoyancy of rents is that the private rented sector is no longer just the tenure of choice for ‘twentysomethings’, but increasingly provides homes for people in their thirties and forties with families. According to a separate Paragon survey of landlords, the average age of tenants has reached 32.8, from 31.0 at the start of 2007.
The profile of private rented tenants has been changing for some years. With the rising standard of accommodation in the private rented sector and home ownership being less affordable, people have increasingly seen private rented accommodation as providing a suitable long-term family home. Previously rented homes were largely perceived as a stop-gap until such a time as people could afford to buy.
The Communities and Local Government’s annual housing statistics report confirms this trend. In 2002, when the report began, 23% of tenants in the private rented sector were couples or single people with children. By 2007, this figure had risen to 28%.
News Release: Bank of England Reduces Bank Rate by 0.25 Percentage Points to 5.25%
7th February 2008
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.25%.
The prospects for output growth abroad have deteriorated and the disruption to global financial markets has continued. In the United Kingdom, credit conditions for households and businesses are tightening. Consumer spending growth appears to have eased. Although the substantial fall in the sterling exchange rate is likely to promote re-balancing of total demand, output growth has moderated to around its historical average rate and business surveys suggest that further slowing is in prospect. These developments pose downside risks to the outlook for inflation.
CPI inflation, at 2.1% in December, was close to the 2% target, but higher energy and food prices are expected to raise inflation, possibly quite sharply, in the coming months. And the lower level of sterling will boost import costs. The impact on inflation should begin to fade later in the year, but measures of inflation expectations are currently elevated. These developments pose upside risks to the outlook for inflation further ahead.
Given this outlook for inflation, some slowing of demand growth, by reducing the pressure on capacity, is likely to be necessary to return inflation to target in the medium term. The Committee needs to balance the risk that a sharp slowing in activity pulls inflation below the target in the medium term against the risk that elevated inflation expectations keep inflation above target.
Against that background, the Committee judged that a reduction in Bank Rate of 0.25 percentage points to 5.25% was necessary to meet the 2% target for CPI inflation in the medium term.
The Committee’s latest inflation and output projections will appear in the Inflation Report to be published on Wednesday 13 February.
