Homeowner cheer as base rate held at 0.5%

David Bexon, Managing Director of SmartNewHomes.com, said of the decision:

“The Monetary Policy Committee’s decision to maintain the base rate at its historic low of 0.5% for the fifteenth consecutive month is continued good news for existing home owners and should give confidence to those who are yet to enter the market.

“The housing minister’s pledge this week to increase home ownership levels needs to work hand in hand with an easing of lending criteria, particularly for new build properties.  We will be looking to Mr Shapps to follow up his query over why the banks aren’t lending to the quarter of a million people who can afford to pay back a high loan to value mortgage, with interest.”

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