Mortgage customers could find themselves paying nothing on their monthly mortgage repayments if the Bank of England reduces its interest rates further to 1 per cent tomorrow.
Experts believe that customers of Lloyds TSB and Cheltenham and Gloucester who have purchased an interest only tracker mortgage or variable rate mortgage will benefit from the reduction as they will not be paying any monthly repayments whatsoever.
The decision will be announced on Thursday 5th on whether the Bank will cut its base rate reaching a new all-time low.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment