Half a percentage point has been shaved off interest rates by the Bank of England today and they now stand at 1%. Some are already speculating that rates will drop to 0% before the year is out, however, others - including the Federation of Small Businesses - argue that they should have stayed at 1.5%.
Providing lenders pass the cut on, it is hoped that this will encourage more buyers into the property market. Philip Selway of The Buying Solution, a property buying agency, says: 'We have never been so busy with new client enquiries in both London and the Country, with buyers keeping an eye on what they perceive to be the bottom of the market. Clients who need to purchase this year are aiming to do so whilst house prices are still on a downward slope, and with savings rates at an all time low, now is looking like a good time for them to protect their capital in the long term by way of property purchase.'
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Dawn Chorus: A Blue Plaque for Marc Bolan, holidaying in the Caribbean with Francis Ford Coppola and a history of the National Gallery in 25 picturesPlus the best of the property pages, and how the railways will save the countryside.
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Game, set, match: 12 of the world’s most beautiful tennis courtsFrom Italy to Indonesia, when it comes to hotel amenities, a picturesque tennis court will always trump a 24-hour gym. So, before you book your next holiday, take a look at our pick of the 12 best.
