Housebuilder thumbs up for rate cut

12:42pm Thursday 4th December 2008

Comments (0)   Have your say »

THE announcement by the Bank of England’s Monetary Policy Committee to reduce the interest rate by one per cent to two per cent will be welcomed by househunters across the South Midlands and will boost confidence that now is definitely a good time to buy a new home, according to a housebuilder.

Interest rates are now at their lowest since the 1950s – a move that has been welcomed by Studley-based Persimmon Homes South Midlands.

Alison Reading, sales director for Persimmon Homes South Midlands, said: “Given the squeeze on credit, today’s decision to lower the rate to two per cent will certainly boost confidence in the buying public.

"Those who have hesitated about when to make the move should be encouraged to come forward now and appreciate the great variety of opportunities on offer.

“We work hard to make homes as affordable as possible and schemes to suit all buyer types have been examined carefully, especially in the recent slower marketplace.

"This is extremely positive news for youngsters looking to take their first step on the property ladder and for those looking to make the move into a bigger home."

She added: "This news will surely kick-start the good feel factor.”

Persimmon Homes South Midlands currently has developments in Cleobury Mortimer, Leominster, Malvern and Worcester.