Following the Halifax announcement this week that house prices were actually unchanged during January, and not falling through the floor as the media would have us believe, the Bank of England gave further good news to homeowners by reducing UK interest rates by a quarter percent to 5.25%.

For mortgage payers, this means a saving of about £23 per month on the typical tracker type mortgage of £150,000.

Estate agents generally have reported continuing shortages of homes for sale which has prevented the predicted significant fall in values which was widely forecast last year following on from the slump in US housing market which, in contrast, has a large surplus of property permanently available.

Veteran local estate agent Peter Jackson of the Robinson-Jackson network commented, “This latest drop in the rate is good news for existing mortgage holders, but perhaps even better news for those buying now and seeking a mortgage at the lower rate. We currently have some excellent homes for sale, realistically priced and with vendors keen to move home as soon as possible.”

Business partner, Alan Robinson, added :- “The current market should be viewed as a rare buying opportunity not to be missed - especially for first time buyers who are no longer competing with the buy-to-let investors. Mortgage rates look to go even lower in the coming monnths so this will undoubtedly bring out the buyers who, till now, have been putting off buying or were nervous about making a decision to move home.”

All 20 Robinson Jackson estate agency branches  throughout South East London , Medway and Kent are open till late 7 days a week and can introduce you to their in house mortgage adviser who can providwe a wriiten quotation of the best mortgage for you from a selelection of thousands.

Your Home is at risk if you do not keep up your mortgage repayments.

Robinson - Jackson act as introducers only to a number of FSA approved mortgage advisers based within our offices.