fbpx

Raising The Base

03.11.21

With expectations piqued that the Bank of England is due to increase the current base rate of 0.1% at its forthcoming review tomorrow, Thursday 4th November, Alex Woodleigh Smith, Founder and Managing Director of AWS Prime, a specialist PCL Property Buying Agency, shares his perspective with Abode2, on what this means for the London property market:

“The much-expected Bank of England base rate increase this Thursday should come as little surprise. In my opinion, it’s too soon in the economic recovery to start making borrowing more expensive but the need to control rising inflation, mainly caused by the energy crisis and Covid related supply line issues, appears to be taking priority.

What does that mean for our clients? The majority of our clients are 100 per cent cash, and for those that aren’t, the kind of rates that will remain available for the foreseeable future are still hugely attractive. I dare say, the start of an upwards shift in interest rates might motivate a few more buyers to accelerate their purchase plans. If they buy now, they can take advantage of inexpensive financing whilst it’s still available.

With this is mind, we see little potential for any shockwaves being felt in the Prime London Market especially whilst stock is very low at the moment. I think we’ll see a few more sellers coming to the market encouraged by more positive market conditions but persuaded to make their move whilst they can secure the last of the bargain mortgage rates. I expect the phone calls I will be taking this week will be from clients who have an increased appetite to negotiate harder, to offset a more favourable purchase price, and make the most of what is still an incredibly good time to borrow, sooner rather than later.”

AWS Prime

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • Monaco Real Estates
  • RDO
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Pedini London
  • Alexander James
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Jumeirah
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Worldwide Property
  • Dimora
  • Dominic McKenzie Architects
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Deborah Garth
  • You home
  • Ra Shaw Designs
  • Caudwell Collection
  • accanto-interiors
  • Fritz Hansen
  • capital-rise
  • jarrods-staircase
  • neil-davies-logo
  • Tina Shone Group
  • Taplow riverside
  • Aimo
  • ns-ceramics-logo
  • Rusk
  • Consilium Expert Group
  • Ben Krupinski Builder
  • Swoffers
  • Guernsey Relocation Services
  • Douglas Graneto
  • Strutt & Parker
  • wilsons
  • MJC Associates
  • plainspace
  • Fine & Country
  • Bramble Ski
  • Penthouse queen
  • Sarco_Affiliate_Logo
  • taylor wimpey
  • cooper-gardner
  • M Design Architects
  • codan
  • Lovells
  • London DE
  • HELENA JORNET FINQUES
  • Prime Lands Group
  • Bellegarde Estates
  • Sinclair
  • Pippa Paton
  • Ecole d'Humanite
  • Benedek Lewin
  • Inspired Villages
  • Huelin Homes
  • Gaudin
  • Lovells Property
  • Racecourse Lodge Logo
  • Paseo
  • Lemay + Escobar
  • Octagon
  • Locate Isle of Man
  • Newlands of Stow
  • Hawksford
  • Holdun
  • St George's International School
  • Schule Schloss Salem
  • AR Architecture
  • lazaro
  • Sella Concept
  • Blakstad
  • SAREG
  • miller interior
  • Harrow
  • Pearson
  • Wealth Club
  • Yellow House Architects
  • Designer Touches
  • Zafiro
  • Nicole Murray
  • Scout Boats
  • Emerson Insinkerator

Enter your dream destination