Bank of England to bring confidence back to housing market

The Bank of England’s £50 billion contribution to the High Street banks liquidity is the first step along the way to increasing confidence in the banks ,the economy and the housing market and minimise the effects of the international credit crunch. Abbey were the first to acknowledge this by reducing one of their mortgage product rates passing on some of the recent reductions announced in the bank base rates ,with other lenders expected to follow suit.

Robinson Jackson’s most experienced mortgage adviser Mark Alexander at Plumstead (South East London) commented     “ This 50 billion pound, and more, bolster to the mortgage lenders should now allow them much more flexibility and ease to grant mortgages at better rates to our buyers”

Senior Partner Peter Jackson added “ Since the credit crunch started in the latter part of last year ,despite the almost hysterical press claiming a collapse in house prices we’ve seen very little change in actual selling prices locally and very few of our buyers were unable to get a mortgage. The latest news of massive and ongoing support for the banks will give them confidence to grant mortgages at lower rates and our market will surely continue to quietly hold firm whilst the press will at last lose interest in a story they have been over exaggerating for months.”

Tom Cleary, the Senior mortgage partner with Robinson Jackson  stressed “  With the ever changing and  complicated situation with all lenders and products, face to face advice on mortgages and re-mortgages is now more important than ever- why pop in and see us?”

Robinson Jackson have nearly 50 years experience of selling homes locally and have an associated mortgage advisor at every branch from Sittingbourne in Kent to Sydenham in London all open till late 7 days a week.