Mortgage renewal - base rate cut

ChrisJ123

Hi,


I am looking to renew my mortgage with a five year fix. So far my current provider First Direct are looking the best bet.


I have been holding off for a month or so with the Brexit situation and since the base rate cut to 0.25% last week I was hoping to see some further savings.


So far I have seen no reduction from the rate prior to the 0.25% cut. Does anyone have any insight in to how long any potential interest rate reductions may take to filter through from the recent changes??


Thanks,
Chris

kingstreet

Over the last month or two the swaps for new product rates have largely discounted the base rate reduction so it's unlikely you'll see much of a reduction in the near future, if any.