Rate cuts may not prove of benefit to many homeowners

With the aggressive rate cuts that have been applied to the base interest rate by the Bank of England over recent months homeowners on variable rate interest deals should in theory be delighted. Since last November the base interest rate has plummeted by nearly two thirds, plunging from 5.75 percent to just 2 percent. It now stands at its lowest levels in nearly six decades, and many think that it will fall further over the next couple of months. Read more

Tags: base rate cut, homeowners, variable rate, future rates cuts, Floating interest rate, Mortgages, bank of england