Will UK interest rate cut make mortgages and loans cheaper?

Mortgage rates Just under a third of households have a mortgage, according to the government’s English Housing Survey, external. About 600,000 homeowners have a mortgage that “tracks” the Bank of England’s rate, so a base rate cut immediately leads to lower monthly repayments. But more than eight in 10 mortgage customers have fixed-rate deals. While their monthly payments aren’t immediately affected, future deals are. Mortgage rates are still much higher

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