The interest rate cut is no doubt good news for borrowers...

The interest rate cut is no doubt good news for borrowers and adds to the overall positive mood we’re seeing – particularly in the new build market. With competition amongst lenders remaining strong there continues to be some good mortgage deals on offer, a general willingness to lend and, and, on the back of government support through schemes such as Help to Buy, means those looking to buy are in a good position. 

The challenge remains, however, that while demand for new build property continues, as developers will confirm, we still need to consider supply. Developers are more than willing to build but land availability remains an issue as does the planning process at local level and until further improvements are made in these areas some may still struggle to realise their dreams of home ownership.

Shaun Peart, Managing Director of LSL Land & New Homes