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Cluttons statement on interest rate cut

"It will help those homeowners on trackers and variable rates by making their home more affordable, but perversely, this can have a negative impact on transactions, as their homes suddenly become more affordable, making them less likely to sell.

"There are opportunities appearing as sellers face the reality of the market after the Christmas break, but even though property is becoming more affordable, the Banks’ unwillingness to lend on reasonable terms means there is little chance of a significant improvement in the market.

"In reality, there are few borrowers who have spotless credit ratings and total job security, who are also able to afford 25-30% deposits."

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