NAEA calls for more action to help mortgage holders
www.moneynews.co.uk > Mortgages > NAEA calls for more action to help mortgage holders
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NAEA calls for more action to help mortgage holders
Wed 4th Jun 2008
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On the eve of the next interest rate decision from the Bank of England, the body has stated that more needs to be done to improve the situation in the property market.
"What is clear is that interest rates are dislocated from the situation and that the banks are not passing on any interest rate benefits to customers, if anything the mortgage rates are getting tighter," chief executive of the NAEA Peter Bolton King said.
He added that a stamp duty holiday could help encourage more first-time buyers to enter the market.
An Adfero poll of eight economists and institutions has revealed that the most likely outcome of the Bank of England's monetary policy committee meeting tomorrow is a hold decision.
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