SearchFlow comments on the new BoE base rate

SearchFlow comments on the new BoE base rate

SearchFlow Director comments on Bank of England reduction of base rate to new record low of 0.25%

Commenting on the news, Greg Bryce, Managing Director of SearchFlow, comments:

“There have been many encouraging signs that the property market is in a strong position to withstand any uncertainty surrounding Brexit and this has been supported with the Bank of England revealing that transaction levels have been resilient over the last month. This sentiment is reflected within the conveyancing industry, our latest conveyancing survey reveals that the clear majority, 60% of respondents, believe that transaction level will stabilise, 20% believe it will increase by 1-10% and 14% of respondents believe it will increase by 11-20% in the next three months. Only 6% believe that the transaction level will drop further.

“Even though house prices are widely predicted to cool, investing in property will become even more enticing, as today’s rate cut translates into cheaper financing. With banks such as Barclays and Santander already confirming that they will cut SVR by 0.25%, first time buyers will also be encouraged to enter the market. Recently it was revealed that the number of people that own their home has stopped reducing for the first time since 2003 and there has been a surge of interest in property purchases from foreign investors. These factors combined with record low unemployment levels, and demand outstripping housing supply, the housing market is in a very strong position to withstand any turbulence over the coming months.”

This article was submitted to be published by SearchFlow as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

SearchFlow

http://www.searchflow.co.uk

SearchFlow is the UK’s largest provider of legal due diligence data for residential and commercial property transactions. Since its formation, it has supported over 5,000,000 instructions and delivered 26,000,000 searches; this equates to around 1 in every 4 property transactions in the UK. SearchFlow recognises that proactively supporting each client’s journey is vital to delivering the right due diligence insights, searches, data, surveys, and insurance for every transaction – whether a single residential property or a complex commercial portfolio. Via its advanced online ordering platform and backed-up by an award-winning customer service team, SearchFlow supports clients in delivering the conveyancing solutions needed to manage due diligence risk and achieve compliance. By partnering with SearchFlow, property law professionals in the UK can deliver smarter, safer, and faster property transactions to their customers. SearchFlow have been crowned Search Provider of the Year for four consecutive years, and recently won Bronze for Best Use of Technology at the CX Awards. Based in Kent, SearchFlow is a Landmark Information Group business, which is part of DMGT plc. Key Services

Links Address 42 Kings Hill Avenue Kings Hill West Malling Kent ME19 4AJ Key Contact  Rob Steadman robert.steadman@searchflow.co.uk Telephone 0800 977 8818

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