Base rate cut a double-edged sword for mortgage lenders

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Base rate cut a double-edged sword for mortgage lenders

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01-08-2009, 07:21 PM

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Base rate cut a double-edged sword for mortgage lenders

The director general of the Council of Mortgage Lenders has described today’s cut in the Bank of England’s base rate to 1.5% as a double-edged sword for lenders who rely on savings deposits to fund their mortgage businesses.Michael Coogan comments that while lower mortgage rates can provide borrowers with the opportunity to repay their mortgages [...]

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