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UK outlook upgraded as recovery is 'robust and broadening'

13 Jun 2014

S&P, the ratings agency, has raised the outlook on the UK's triple A credit-rating from 'negative' to 'stable'. It cites the likely increase in output as business invest more due to their increased optimism in future demand for their products and services

The agency is also relatively relaxed about the UK housing market, mentioning the number of cash buyers that have inflated Greater London prices, and that recent limits imposed by lenders are likely to be followed by others and also likely to have a slowing effect - particularly on areas where loan multiple to income ratios are getting too high - mostly in the South-East and London

The outlook upgrade may also mean that the two other major ratings agencies - Moodys and Fitch - may both restore the UK's triple A rating, after both downgrading it following the financial crisis.

This is relevant for mortgage holders borrowing from UK institutions, as the higher the credit rating, the lower the typical rate of interest paid on UK government bonds (all other things being equal), which is the benchmark for UK lenders

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