The Times - What lies ahead for homebuyers and savers
Within days, or weeks, Mark Carney, the governor of the Bank of England, could order a drop in the base rate. The Times explain what this could mean to mortgage borrowers and savers.
While it’s likely that the Bank of England will cut interest rates, many borrowers may not benefit if lenders do not pass on the rate cut.
Aaron Strutt, of Trinity Financial, says: “If the base rate comes down again it is unlikely that lenders will lower their fixed rates by the same margin.”
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