AMC puts rate up
DESPITE the recent drop in bank base lending rates, the AMC has increased its fixed rate loans by between 0.4% and 0.6%.
This is the first upward adjustment for 18 months, and takes the interest on five-year money to 9.35%.
Long-term money markets have been firming for some time, explains head of finance, Paul Fryer. "This is due to political uncertainty and fears of higher inflation in the future. The markets are likely to remain volatile." *