Another great week at McAndrew Martin!
We’ve had another great week at McAndrew Martin as we continue to be busy.
Our talented team have been dealing with all kinds of projects, from homebuyer and structural surveys to drawing up plans for new developments, fire risk assessments, design work and more!
Demand for our expert surveys is continuing to increase as the housing market remains strong – and it seems as if there is more good news on interest rates.
The Bank of England governor Mark Carney today told BBC Radio 4 that he anticipates that the ‘normal’ level for interest rates to be around 2.5 per cent in the future.
That means that homeowners won’t have to face the skyrocketing rates which we saw in the past.
Mr Carney suggested the rates could reach 2.5 per cent in early 2017 – giving more stability to the housing market – and indicated that a return to 5 per cent was unlikely.
It may be disappointing for savers, but the lower rates should help housebuyers as well as business keen to expand or invest.
Mr Carney told the BBC: “The big picture is not whether the Bank Rate goes from 0.5 per cent to slightly above that lowest ever level.
“That’s not the big picture, the big picture is where interest rates go in the medium term.
“Because if I am taking out a mortgage and if I am thinking of investing in a new plant, if I’m thinking about taking on new people that’s what I’m thinking about.”
He added: “The guidance we are giving is… the time will come to raise interest rates… but when we raise interest rates we expect to do so in a gradual and limited fashion.”
So, have a good weekend if your are househunting, renovating or simply relaxing.
Don’t forget our friendly and experienced team area always available to discuss any of your needs.
Call 02392 697193 or email [email protected] for a no-obligation discussion or pop into our offices in Dundas Lane, Portsmouth.
You can also visit http://www.bbc.co.uk/news/business-28053045 for more information.
We’ve had another great week at McAndrew Martin as we continue to be busy. Our talented team have been dealing…