The Bank of England cut the Bank Rate a quarter percent today – now down to 5%.
There are a considerable number of British investors and 2nd home buyers in Florida property that are thankful of the move.
British Mortgages Abroad’s ‘flexible tracker’ products and multi currency mortgages originated in UK pounds, track the BoE for their variable Interest rates.
Abbey chief economist Barry Naisbitt says:"The MPC has taken a forward-looking view that slower growth is likely to reduce medium-term inflationary pressures and has been able to cut rates because of its focus on medium-term inflation…
