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Interest Rate Cut Will Entice Investors and Reduce Pressure on Homeowners

5th February 2009 | back to article listings BACK    print this article PRINT

Stuart Law, Chief Executive of property investment specialist Assetz, comments:

"Contrary to some industry commentators, we are seeing interest rate cuts having a positive effect on the market, and it is quite probable that the worst of the house price falls is now behind us

The half point today offers further relief to around 50% of homeowners who are on variable and tracker rate mortgages, many of which have had collars removed as a result of pressure from the Government. Thousands more borrowers will be coming off fixed rates during the next few months and moving onto their lender's SVR, also benefiting from this rate cut.

“The recent burst of interest rate cuts has also triggered a strong resurgence of interest from property investors. This is absolutely essential in the current market as it works to soak up excess stock, such as distressed property, and support future house price growth.

"I expect rates to continue on a downward trend over the coming months as the Government prepares for quantitative easing, which requires the base rate to be close to 0%."

-ENDS-

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4623.html. Alternatively, please see our full press release archive.

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