Anticipated Recovery in the UK Property Market Following Expected Base Rate Reduction
The Bank of England is expected to announce a reduction in the Base Rate today, a move that could help revive the UK property market.
We have been reporting for some time strong buyer demand in our local market but a lack of affordability has slowed the market.
Ahead of the anticipated interest rate cut today, three mortgage lenders have announced rate cuts across their mortgage deals, Halifax, HSBC and Clydesdale Bank. This is hot on the heels of Barclays and Coventry Building Society cutting rates earlier this week.
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