BBC News - Hope for mortgage rate cuts after Bank of England decision
Mortgage rates should fall following the Bank of England's decision to keep its key interest rate on hold, brokers say.
So far the response has been muted, with the Nationwide the only major lender to reduce mortgage rates since the Bank's announcement was made.
Brokers said there was now a better chance of these borrowers getting mortgage rates of less than 5% when they renew.
"I expect more lenders will lower their fixed mortgage deals over the coming weeks," said Aaron Strutt, from Trinity Financial. "Mortgage rates need to be closer to 4% to bring more confidence back to the market.
"There certainly is not a full-on price war at the moment, but rates are coming down as the cost of funding mortgages falls."
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