Steve Lees, Director at smartnewhomes, comments on the Bank of England’s decision today to keep interest rates at 0.5%:
“The decision not to increase the base rate this month is good news for the industry, however, the expectation that rates will rise soon has already pushed up the cost of fixed rate mortgages and is impacting consumer confidence.
“Housebuilders continue to come up with innovative mortgage products to help make home ownership more obtainable and reduce costs, but the government needs to address the fundamental problem of a lack of finance for first time buyers, who are the life-blood of the industry. We hope that next week’s meeting between the government and housebuilders helps in finding a national solution to this very real problem.”
See Also: Interest Rate Statement (8), Interest Rates (13), Bank of England (9), Housebuilders (5), Press Releases (371), Property News (6701)
Date Published: 10 February 2011
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