Yesterday's cut in the Bank of England base rate - to the lowest level since
1951 - means that high interest rates may no longer be the threat that they
once were to the housing market. It is hoped that the cut of one percentage
point will bring confidence, as well as cheaper repayments, to millions of
borrowers. However, for anyone seeking a new mortgage deal there is now an
even bigger danger on the horizon than the rising cost of borrowing: the
“down-valuation”.
» full story
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