Bank of England Cuts Base Rate
Bank of England has cut the base rate from 5.25% to 5%. This is the first interest rates cut in over four years! This is great news for homeowners as this base rate influences how much banks charge when borrowing money.
But did you know that 27% of people are on a standard variable rate? This means that they are likely paying much higher interest rates than they would be if they were on a fixed deal. So if you a part of this statistic, now is a good time to look into finding a fixed rate.