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Bank of England maintains Bank Rate at 0.5%

David Bexon, Managing Director of SmartNewHomes.com said
“With the election campaign now in full swing it would have been politically impossible to do anything other than maintain the current rate.

“However, leaving aside the election, the base rate is at present a very blunt tool in the housing market. The continuing shortfall in stock, which is particularly acute in the new homes market, restrictive lending from banks and the recent decision to raise the stamp-duty threshold for first-time buyers are all far more significant factors shaping the current market.”

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