Both Mortgages PLC and TFC Homeloans believe that the Bank of England's recent base rate cut from 4.75% to 4.5% has boosted the housing market. The companies believe that the non-conforming sector is fiercely competitive and the cut has come at the right time to boost the market.
The performance of the housing market is largely dependant on consumer confidence, and borrowers seem keener to take advantage of the lower interest rates and many new offers that are now on offer.
Our view
Let's see what happens with the Bank of England interest rate decision again tommorrow.
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