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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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Banks that don't pass on rates cuts ‘shameful'
10 November, 2008
Melfyn Williams, Past President of the National Association of Estate Agents, said: "It is essential that the outcome of what is becoming a battle with the banks is a fair deal for consumers."
"Those banks that do not pass on interest cuts are acting in direct defiance of the wishes of Government, industry and - most importantly - thousands of hardworking British homeowners.
"Those lenders involved in this damaging standoff should be ashamed of the lack of commitment that they have shown to helping house-hunters. The biggest problem in the housing market today is a lack of consumer confidence - and a clear commitment from all banks to pass on the full 1.5 per cent cut to customers would inject much-needed confidence into the system.
"We know that a positive housing market is essential for the overall economy. Reducing the rate will help send a clear signal to the market and allow fluidity of mortgages to be loosened - giving the market and the thousands of house hunters out there the positive impetus they need."
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