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Interest Rates Cut By Bank of England
August 4, 2016Article by Chelsea Battle
The news of the Bank of England cutting interest rates is promising for the property sector. The already record low rate of 0.5% has been halved to 0.25%, which is good news for anyone funding their property ownership through a variable rate mortgage.
The UK property is now more attractive when compared with other asset classes. For example, bonds and savings could become less attractive due to falling interest rates. Ray Withers, CEO of Property Frontiers, comments on these changes.