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Mortgage rate alert.
baldchef
Posts: 13 Forumite
Does anyone know when the Bank of England change the rates of interest , and how soon after they change does this affect lenders offers and deals.
Also, do and can mortgage lenders change their current rates without any changes in the Bank of England interest rates.
Also, do and can mortgage lenders change their current rates without any changes in the Bank of England interest rates.
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Comments
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They set interest rates on the first Thursday of every month. Mortgage lenders usually pass on any rise within days (hours sometimes), while cuts can be much slower to feed through.
And yes, mortgage lenders can change their rates without waiting for the BoE.poppy100
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