With news of the country going into negative inflation for the first time since 1960, Story Homes’ Finance Director Stuart Marshall explains what this could mean for customers buying new homes.
Stuart said: “Negative inflation in the short term isn’t a bad thing for the consumer. It leads to reduced cost of living expenses with items such as food and petrol in particular being cheaper.
“This provides individuals a higher level of discretionary spend which is a good thing for our economy and in terms of potential Story Homes customers more money to help them fund their mortgages or to save for deposits.
“It’s worth noting however that the governor of the Bank of England Mark Carney is predicting the negative inflation to be a short term blip. In the long-term interest rates and inflation are both expected to rise which is something homebuyers need to be aware of.”
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