Beechcroft welcomes interest rate cut

“This is good news for the housing market and for those who are about to buy or to remortgage a property as well as those on variable mortgage rates,” comments Chris Thompson, Beechcroft’s Managing Director. 

“Whilst many of our developments are designed for the over 55s and our home buyers don’t generally need a mortgage to buy, they usually need to sell their existing homes in order to move home and lower mortgage rates make it more affordable for those lower down the property ladder to make their next move.”

“We have a massive housing crisis in this country and providing attractive, spacious, retirement homes where people really want to live, means that larger, underoccupied, family homes are able to come to the market.  We are optimistic about future interest rate reductions although we expect rates, that rose rapidly over the past four years, will fall more gradually.”

For details of Beechcroft’s developments across Berkshire, Hampshire, Hertfordshire, Kent, Surrey and Oxfordshire, please visit our Retirement Homes for Sale page.