So last week saw the city in shock as news broke of the Base rates being reduced again and this time by 1.5% to 3% bringing them to their lowest level in 54 years. The rate cut is the biggest in the UK since a 2% cut in March 1981. This is a big move and demonstrates commitment to getting things moving by the Bank of England. As long as the lenders pass that cut on to the consumer it will be a welcome relief to many struggling homeowners throughout the UK. Of course it will also help to get the property market back on its feet as desirable lending products entice the first time buyers and the investors back out to play. With the Loan to Value on most products still far too high though, with many struggling to find big deposits, this too needs to be addressed by the Lenders if they are to make buying across the board more affordable. With property prices at their lowest in years and rates the lowest since 1955 it may well be time to consider putting your foot on the property ladder whether for the first time or maybe as an investor?