Borrowers facing tighter criteria
Director of Fair Investment Company, James Caldwell commented, “With
a £200,000 mortgage, even a reduction of just a quarter
of a per cent would mean a saving of £30 a month, which
would have a significant affect on the average family’s
Many people speaking out alongside the decision to maintain interest
rates have accepted that erring on the side of vigilance when
carrying out the financial turmoil.
The Council of Mortgage
Lenders has stated that it hopes for
and anticipates a slice during November period.
Chief executive, Robert Bryant-Pearson of Allied Surveyors, commented: “A
lost opportunity demonstrating a reactionary lack of imagination.
It is essential to restore confidence to households and to ease
the path for first
time buyers and existing homeowners who are
having to service expensive mortgages.
"A decrease of 0.25 per cent would have sent a positive signal
which would prevent an untimely reduction in consumer spending
and a host of property repossessions over the winter.”
The firms have agreed that 5.75 per cent is certainly the peak
for interest rates due to the situation of the current market,
any more increases, if this may occur, will be downwards.
A Stockbroker, Henk Potts commented “A key to future interest
rate activities will be November’s Inflation Report; the
consumer price index is now below the Bank of England’s
target, but should return to target in the medium term.”
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