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David Bexon, Managing Director of SmartNewHomes.com, comments on this month’s decision from the Bank of England’s Monetary Policy Committee (MPC) to hold interest rates at 5.75%:
“Today’s decision to hold interest rates is an extremely short-sighted one at a time when confidence in the housing market is at an all-time low. Repossessions are set to rise next year and homeowners who have stretched their finances to buy at high prices on low, short-term mortgages, will suffer.
“There is still time next month for the MPC to reverse this decision and I urge them to do so.”
See Also: Press Releases (371)
Date Published: 08 November 2007
