He added: "For those concerned about how ongoing affordability challenges will impact their homeownership ambitions, remember that there is always help at hand. Whether that be getting in touch with their mortgage lender, or speaking with a broker to understand the different options available, it’s our duty as an industry to help these customers step onto or up the property ladder."
While Tony Hall, head of business development at Saffron for Intermediaries, said the conversation was shifting from when, rather than if, rates would fall.
At the end of April, deputy governor Dave Ramsden said the risk of persistent inflation pressures were receding.
In a speech on April 19, he said: "Over the last few months I have become more confident in the evidence that risks to persistence in domestic inflation pressures are receding, helped by improved inflation dynamics."
tara.o'connor@ft.com
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