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Rate rise could dampen housing market has warned that a rate rise in November would dampen the market.

David Bexon, managing director of, says: “A rate rise in November would seriously dampen the market at this crucial time when it is slowly starting to show signs of growth.

“With predicted higher costs of transactions next year from Home Information Packs, albeit slimmed down, a rate rise at this time could send house prices into reverse and seriously damage buyer confidence.

“Recent growth has been restricted to London and the South East – it is not a national phenomenon.

“Affordability is a cause for serious concern and increasing mortgage rates will only exacerbate this situation.

“The existing supply and demand imbalance in the market has been caused by an over bureaucratic planning system – where the average time taken to gain approval has increased by 50% since Labour came to power (and promised to reform the system) and this cannot be ignored.

“The planning process must be improved and the mix of new housing carefully monitored to ensure the development of adequate and affordable housing across the UK.

“I would strongly urge the Bank of England to think very carefully about the implications before introducing a rate rise this month.”


C&G unveils new-look website

Cheltenham & Gloucester is launching a redesigned intermediary website featuring an affordability calculator, a personal news alert service and a sales force locator.

Climate change begins at home, says Tories

The Conservative Party has called on the government to put Britain’s environmental house in order first, before seeking to lead an international effort to combat climate change.Shadow environment secretary Peter Ainsworth says action needs to be taken on the home front, following publication of the Stern Report on global warming. In the report Stern warns: […]

West Brom appoints corporate account manager

James Taylor has been promoted to corporate account manager at West Brom for Intermediaries, the specialist intermediary lending arm of the West Browich.Taylor who was previously mortgage product manager, joined the West Brom in 2002 as retail analyst and then a retail development manager working with the society’s branch network. He became mortgage product manager […]

Ipswich scheme fund is allocated

Assetz’ Ipswich property fund has allocated most of the £9.5m required to provide finance for the development of mixed use scheme The Mill in Ipswich.

Frexit & contagion risk in Europe

Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune’s Rob Burnett discusses the likelihood of this happening. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide for future […]


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