Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester
“Brokers at last have something to cheer about. A reduction in interest rates, against the backdrop of lower retail sales and mortgage lending figures for the first half of this year compared with the same period last year, will be a welcome boost to the housing market and will help the wider economy.”
Liam Bailey, head of residential research at Knight Frank
“In reality the most important aspect of the rate cut move is that it sends out the correct signal to the market, that interest rates have peaked in the current cycle and there is likely to be another cut in the next few months.”
Jim Buckle, managing director of propertyfinder.com
“Our surveys show confidence in the housing market has recovered in the last three months as buyers and sellers began to anticipate falling interest rates. The housing market began to recover as a result. Without this interest rate cut, the market would have quickly sunk back into the doldrums.”
Lee Grandin, managing director of Landlord Mortgages
“The rate reduction will come as welcome news to landlords as it is likely to herald a rate war between buy-to-let mortgage providers as they swiftly cut rates in their battle to gain customers.”
Matthew Wyles, group development director at Portman Building Society
“Customers should not assume this is the beginning of a landslide in mortgage pricing – the extent and timing of further reductions is by no means clear.”
