UK loan and mortgage news from UK loan broker - More4 Loans.
08/01/2009 - Bank of England base rate lowest ever.
The Bank of England has today announced that the bank base rate is to be cut by 0.5% to 1.5% which is the lowest base rate since the BoE was formed. However the BoE has warned mortgage payers not to expect the full rate cut to be passed on by their mortgage lenders, as each lender must balance between their duties to mortgage payers and their savers.
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