6
Mar
More help call for specialist lenders
The base rate cut alone will not help the specialist lender sector
in the UK property market, it has been argued.
Investor website Smartlandlord.co.uk said that the reduction in the
rate is unlikely to have a major effect because it is now too close
to zero.
It also suggested that sectors such as buy-to-let will see
"limited" benefits from any increase in liquidity brought about by
the Bank's £75 billion asset purchase scheme.
Without more help for the industry, there could be a longer term
lack of housing supply for both renters and homebuyers, the site
warned.
The Royal Institution of Chartered Surveyors (RICS) gave a more
upbeat reception to the announcement of the asset purchase
scheme.
RICS labelled its introduction as "good news in the face of the
relentless stream of poor economic numbers" and a "vital" tool now
that there is little scope for cutting the base rate further.
