The Bank of England's Monetary Policy Committee has voted 8–1 in favour of reducing the Bank Rate from 5% to 4.75% with one member voting to hold the rate at 5%.
The specialist lender received 'remarkable feedback' from two independent credit rating agencies that were tasked with reviewing the firm's operations.
Confidence in the UK Housing Market remains high as consumers report feeling more positive about their ability to afford rent or mortgage payments despite rising costs.
Average house prices edged up further in October, marking the fourth consecutive monthly increase, according to the latest figures released by Halifax.