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Confidence boost by cash injection
CONFIDENCE has been restored to the housing market according to the estate agent Robinson Jackson.
The Bank of England's £50bn cash injection in to High Street banks is the first step towards a brighter outlook when it comes to buying and selling our homes.
Since the funds have been made available, Abbey were the first to reduce several of its mortgage product rates, passing on some of the recent reductions announced in the bank base rates, with other lenders expected to
follow suit.
Peter Jackson, a senior partner at Robinson Jackson, said: "The latest news of massive and ongoing support for the banks will give them confidence to grant mortgages at lower rates and our market will surely continue to quietly hold firm, whilst the press will at last lose
interest in a story they have been over exaggerating for months."
12:20pm Tuesday 29th April 2008
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