Peter Rollings commenting on the Bank of England’s decision to cut interest rates this morning

“This is a double edged sword – lowering the base rate puts more pressure on lenders’ margins, making it tougher for them to lend.  A move like this must go hand in hand with action from the government to help banks boost their lending.

“But the silver lining is that the lower the interest rate, the more sense it makes for people to buy property, not rent.  We’ve already seen the impact of the Bank’s last cut - Marsh & Parsons registered more than 1,000 new buyers in January alone.   Renters are demanding six month break clauses in their leases so they can get out quickly to buy at the floor of the market – the number of buyers with secure mortgage finance was noticeably higher last month.” 

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Delighted with the additional savings!
written by ben sellers, February 05, 2009
Hi Peter, my prayers were answered today when the interest rate dropped by yet another 0.5% - As you know, I bought my dream home on September 26th 2008 and the lending rate was 7% - I knew at the time it would be sometime before I was able to afford to live in this country house - however, now my rate is down to 2.5%, the position has changed. Now I think I might have to ask Marsh and Parsons Chelsea Lettings Department to rent my apartment instead! Best wishes Ben smilies/smiley.gif
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written by Peter Rollings, February 05, 2009


Hi Ben, glad to hear that your plans are coming together. We would love to discuss your Chelsea property with you – our office contact details can be found here http://www.marshandparsons.co.uk/office/chelsea/ and the lettings manager is called Giles Barrett. He’s been with the office for a number of years and I’m confident you will be very well looked after! Good luck with getting a tenant and moving to your dream home. Regards, Peter




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