As you will now know the Bank of England decided this morning in an emergency meeting to decrease rates from 0.75% to 0.25%.
Most lenders had already seen the rate cut coming however not as sudden as this. As a result most fixed rates haven’t been affected so far. A lot of lenders have reduced their Standard variable rates (SVR) by 0.50% and some lenders have withdrawn tracker rate mortgages.
if you have any concerns or questions please feel free to contact me.