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Latest News
<< Most Recent Articles
Householders 'could be relieved by rate cut'
Househunters and holders could be relieved by another cut in the base interest rate, it has been claimed.
The likelihood of another Bank of England interest rate cut is a real possibility, according to John Charcol, due to the fact that mortgage lenders' cost of borrowing is high.
The Bank of England may step in to alleviate the pressure on home loan providers, which may, in turn, benefit homeowners and people looking to take out a mortgage.
Katie Tucker, spokesperson for John Charcol, commented: "Cash-strapped homeowners will be relieved to know that some relief to their purse-strings may still be due.
"The hope for buyers and homeowners, will be that the Monetary Policy Committee is not deterred from implementing another rate cut soon."
According to research conducted by Moneyfacts.co.uk, there has been a 60 per cent decrease in the amount of mortgage products available on the market.
See how much you could borrow with a home loan from Lombard Direct.
© Adfero Ltd
28/03/2008 15:41:04
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