Estate agents call for further interest rate cuts
www.moneynews.co.uk > Mortgages > Estate agents call for further interest rate cuts
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Estate agents call for further interest rate cuts
Wed 19th Nov 2008
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In a poll of members, the NAEA found that 54 per cent of estate agents favoured more drastic action from the government, including suspending stamp duty and reducing interest rates to below three per cent.
The NAEA survey found that consumers were already doing their bit to help the market, with many cutting the asking price on their houses.
Chris Brown, president of the NAEA, said that although this might be difficult for sellers, it brought prices in line with the realities of the economic situation.
He added: "Sellers have bravely accepted the truth of the situation and responded accordingly, so now must the government and the major lenders."
Gordon Brown also spoke out on the issue of mortgage lending last week, urging major lenders to act "responsibly".
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