| From Propertywire.com: The much welcomed interest rate cut by the Bank of England is unlikely to have much impact on the UK property market, according to industry experts. Although most lenders have passed on the cut and reduced their standard variable rates this will only benefit those with tracker mortgages while more than half the borrowers in the UK are on fixed rates.
According to Savills research even if the rate cut filters through to the wider mortgage market, it is a lack of availability of funds that is having the biggest impact on the property market..... Full Article: Source
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