Losing interest?

Now that the Bank of England has cut the base interest rate by a massive 1.5%, you may be literally losing interest!

Typically the banks are quick to adjust the savings rates downwards while being slow to drop the mortgage rates. If you are amongst the lucky few with savings rather than debts this could have a major financial impact.

As the housing market falls and the rate at which new houses are built drops, the availability of contractors increases (which means that building costs may also fall) As a result, this may be a good time to extend or refurbish your home - your money will go further, it will save you from the perils of the housing market and as your money is not working as hard in the bank you might as well put it to good use in improving your house.

Of course I am touting for business, but I do see a good opportunity to make the best of bad times and avoid the 'property development rush' which will inevitably come with the next boom.

room architects