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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 reduce interest rates to 5.25%:
“Today’s interest rate cut of .25% will be welcomed across industry and should herald further cuts in the coming months to get the market back on track.
“First time buyers are the key to kick starting the market into action and we need to see competitive deals filtering through from lenders as soon as possible to facilitate this. While prices are not going to plummet, first time buyers are now in a good position to negotiate and take advantage of genuine incentives from developers.”
See Also: Press Releases (371)
Date Published: 07 February 2008
