Interest rates cut by a quarter of a per cent
The Bank of England has cut interest rates again by 0.25 per cent to 5.25 per cent. The announcement made today comes as no surprise with rising oil and energy costs fuelling the risk of inflation.
Even though this news is welcomed by mortgage payers, 20 per cent of lenders did not pass the last rate cut, in December, onto their customers by reducing their rates on the high street. I’ve got a sneaky feeling that more lenders will not pass on the rate cut this time…