https://www.thelandsite.co.uk/files/articles/d1a1c9faa97111e98beb0afeec538f48/iStock-1096694770.jpg 146

Interest rate cut could help cushion housing market

Posted by Willmotts Chartered Surveyors on 18th March 2020 -

title

Interest rates have been cut to 0.25% in a bid to shore up the economy amid the ongoing coronavirus outbreak. This is the first time since the financial crisis that the Bank of England has announced an emergency move.
Low interest rates may well help cushion the housing market in the months ahead. Over 70% of homes are purchased with a mortgage.
According to data from the Bank of England, activity in the mortgage market is currently at a four-year high and mortgage rates are increasingly competitive on the high street.
In 2008, interest rates were cut for six consecutive months, falling from 5% in September 2008 to 0.5% in March 2009. Low interest rates helped the property market rebound throughout 2009.

Are you trying to find a new place to live, call Willmotts for property advice or information with selling and or buying a home please email [email protected] or call 020 8222 9958

 


Shahid Sadiq

Willmotts is a firm of RICS regulated chartered surveyors, est. 1856. Providing an award winning, Complete Property Service from Hammersmith in West London and beyond.

Link to Willmotts Chartered Surveyors business profile

9th September 2025
September's Property Auction Catalogue is LIVE!
Discover unbeatable opportunities in our latest property auction.  
Read more
28th August 2025
London’s Office Market has Found its Footing, Now it’s About Timing the Climb
Following two years of recalibration, London’s office market is not just stabilising. For the first time since the pandemic disrupted demand and unsettled investor sentiment,
Read more
14th August 2025
Wealth Taxes, Non-Doms and Capital Flight: Foreign Investors for Britain CEO Speaks to Knight Frank
Leslie McLeod-Miller talks about how he is spearheading lobbying efforts with the government to persuade them to tweak non-dom rules and what he expects to happen next
Read more