From The Telegraph:
Shares in Britain's housebuilders fell sharply on Thursday after the Bank of England unexpectedly scaled back a scheme to boost mortgage lending.
The central bank said it would refocus the Funding for Lending scheme on loans to small firms in the face of rising house price inflation.
The news had an immediate impact on shares in the housebuilding sector, with Barratt Developments, Britain's biggest housebuilder by volume, tumbling 9.6pc, Taylor Wimpey dropping 7.8pc and Persimmon falling 6.3pc.
The whole housebuilding sector was dragged down by the surprise announcement with Berkeley Group, Crest Nicholson, Redrow, Countrywide, Galliford Try, and Bellway all losing ground.
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2 comments:
I wonder how long this will last before were back to Business As Usual. Perhaps the Gov't thinks that with Help to Buy doing the heavy lifting of keeping those house prices nicely bouyant, they can refocus FFL elsewhere, and the market has simply got the wrong message. A few words in the right ears and all will be well.
B, yes of course, Help To Sell is The Big One, in numbers terms, not many people have qualified for an HTS mortgage, but it's all about psychology/delusion.
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