National property specialists Strutt & Parker welcomes the news that the Bank of England have announced a 0.25% reduction in interest rates today. Anthony Cane from Strutt & Parker’s London office comments “We have been anticipating a quarter of a percent reduction in interest rates and today’s announcement comes as a welcome nod in the right direction in helping to restore consumer confidence in the property market. The Bank of England together with the Chancellor need to be seen to be helping to unfreeze a stagnating market by restoring confidence. Although there will be no real impact for those on fixed rate mortgages those on tracker mortgages linked to the Bank of England rate will feel the benefit.”