Mortgage rates reach record low
Brits who have built a bespoke lean-to conservatory in order attract new buyers may be pleased to hear that short-term fixed-rate mortgage costs have reached their lowest level since records began 15 years ago.
New figures from the Bank of England show that a two-year fixed-rate deal with 75 per cent loan-to-value is now available with a 3.83 per cent rate of interest.
This is in comparison to 3.92 per cent in March and could encourage new buyers to the market.
Council of Mortgage Lenders (CML) spokesperson Bernard Clarke explained that the falling rate is "good news" for consumers and represents a "slight continuing improvement" in mortgage funding conditions.
Despite this, he suggested that a funding gap could be created once government support measures are removed, which could pose serious long-term problems.
The expert added that the impact of the new Conservative-Liberal Democrat coalition is yet to be seen and that the CML will be looking to have meetings with ministers to establish how the market is likely to change.
Posted by Ashley Ault
The costs of sustainable building
The reason those looking to install a green home improvement may have to pay more could come down to the rising administration costs facing builders.According to the Construction Products Association, the costs involved often stop...
Brochure
Would you like some more information on our conservatories? Order a copy of our brochure online today or call
Gallery
View either our residential gallery or our commercial gallery or view a number of our conservatory case studies.
