Bank of England interest rate mortgages dropped three-January

U.S. loan crisis meeting after the outbreak of the British property market also affected the latest data show that in July the UK average price of housing a year-on-year decline in 7 years, most of that, in order to stimulate the market, the United Kingdom mortgage loans will also have a lower interest rate Lower.



London real estate research firm issued 27 reports, in July in England and Wales alone the average housing price in the same period last year, down 4.4 percent, fell to 168,500 pounds, or higher than June's 1.2 percent for 2001, the Census and Statistics The biggest monthly decline since. Professionals have pointed out that in view of the current housing market uncertainty in the short term is unlikely to disappear, the sale transaction is expected to housing will continue to be held in check, downward price pressure will continue until this fall.



In the face of continued weakness in the market, Britain's largest mortgage provider Halifax Bank have announced lower mortgage interest rates again, the biggest drop of up to 0.3 percent, involving 16 kinds of products, mortgage loans, which is in the bank The third time within a month to lower mortgage interest rates. The Bank of Scotland also said it would reduce the 25 kinds of mortgage products, mortgage interest rates. Analysis of the view that although banks continued to lower lending rates, but with the Bank of England's benchmark interest rate of 5% compared to loan interest rates obviously still on the high side, there is the possibility of further decline.