Thursday, August 04, 2005

Bank rate cut boosts Suffolk property market

Interest cut boosts Suffolk market

The Bank of England cut interest rates for the first time in two years Today, by a quarter percentage point to 4.5 percent, as growth slows in the world's fourth largest economy.
Todd Lewis said "It's a timely boost to what has been a sluggish market"

The cut also means good news for mortgage holders. The Halifax dropped its standard variable rate to 6.5% immediately after the news - leaving customers with an average mortgage of £80,000 £12 better off a month

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