Millions of mortgages bills to FALL as Bank of England interest rate decision confirmed – what it means for you
MILLIONS of mortgage bills are set to fall after the Bank of England confirmed a cut to interest rates.
During today’s meeting of the Monetary Policy Committee (MPC), the BoE’s ratesetters reduced the base rate from 5% to 4.75%.
The Bank of England has cut its base rateThe base rate is used by lenders to determine the interest rates offered to customers on savings and borrowing costs including mortgages.
This reduction means that millions of mortgage holders are set to see their bills fall.
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