Interest Rate Cut Is Good News For South East Housing Market

Darren Maddox, managing director at Linden Homes South East comments on the announcement of Bank of England lowering interest rates:

“Following the key rate being held at 0.5% since March 2009, it is really encouraging to see the Bank of England now lowering interest rates to 0.25%. This announcement should boost buyer confidence in the market, with this underlying message of a continued low interest rate environment.

“For house hunters, this news will be welcomed as a positive step towards making home ownership more attainable with lenders responding with an excellent range of fixed and variable products. These lowered rates, in addition to schemes such as Help to Buy make it a good time for a range of buyers to get onto or up the ladder.

“We have a number of developments at Linden Homes across the South East where these benefits can be reaped. Previously, someone with a typical 25-year mortgage of £250,000 paying 2.09% interest last year could now see their monthly repayment fall by around £63 per month; a significant saving and one to take advantage of.”

Linden Homes has new homes available to buy across South East with developments in Bermondsey (Corio), Battersea (The Metropolitan), Hammersmith (Parkside Place and Kings Row), Earlsfield (Waterside) and Wimbledon (Pavilions).

-ENDS-

Figures are based on the new rate of 1.54% for a 2 year fixed mortgage agreement.

Media can contact Emma Cox or Kelly Ward on emma.cox@remarkablegroup.co.uk / kelly.ward@remarkablegroup.co.uk or call 01962 893 893 for more information, images and interviews with Linden Homes.

17 August 2016

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