After years of waiting for the next interest rate announcement, it may finally be announced today. Up until the Brexit vote, I am sure most commentators would have expected an interest rate rise to be the next Bank of England move, but post-Brexit Britain brings with it a somewhat less stable economic environment.
The new rate is expected to be a drop from 0.5% down to 0.25%, meaning an average mortgage saving of £20-£25 per month. Of course, many current mortgages are fixed rate and will not benefit from the drop.
More to follow when there is confirmation....watch this space
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