The decision made recently by the Bank of England's Monetary Policy Committee to hold the base rate of interest at 0.5 per cent may be welcome news to those seeking new homes.
According to Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, there are signs that lenders are now willing to be "a little more generous" in terms of the loan-to-value ratios they offer.
This could mean buyers are able to afford to purchase larger properties.
The expert added: "It is expected that the base rate is likely to be left on hold until the very tail end of this year whilst there are still concerns about the fragility of the improvement in sentiment."
There has been no change in the country's base rate of interest March 5th 2009, when the Bank completed a series of reductions to it in a bid to stimulate the economy.
Those keen to make the most of the low rates and purchase a property may want to consider the houses being offered currently by Crest Nicholson in Gloucester.
See Also: Property News (6699)
Date Published: 08 January 2010
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