Liam Brooke, Co-Founder of Saving Stream, said that Mr Carney’s announcement was just what the property sector has been wanting to hear.

“The additional bank lending this should free up will help support the UK’s crucial commercial and residential property markets.

“In the past two years, there [has] been a significant slowdown in lending for both commercial and residential property – especially for new developments – but this announcement should now get the banks to look again at property funding.”

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