Here We Go Again! Base Rate Drops to 2.0%!
The Bank of England has done it again. Following on the .5% drop in October and the 1.5% drop in November, they have decreased the rate again by 1%. This is great news for borrowers but not the best for savers…
Borrowers with tracker or variable rate mortgages will probably see their monthly payments decrease to [...]
Interest Rates Drop 1.5%
Wow, didn’t see this one coming, and neither did other industry leaders…
Ben Thompson, mortgages director at Legal & General said:
If you consider that just six months ago Mervyn King was saying that there would be no rate cuts until 2010, the mindset now is completely different.
The size of the cut, the biggest since 1981, [...]
Interest Rate Cuts - Everybody’s doin’ it…
If they all jumped off a bridge….
The Bank of England, along with 5 other Central banks dropped rates today in an unprecedented move aimed at stablising the faltering global economy. This decision in the UK was not expected until tomorrow, so the .5% drop came as a surprise. The Bank of England rate now sits [...]