Mortgage Rates Fall to Record Low as Bank of England Mulls Rate Cut

Home buyers can take advantage of the lowest mortgage rates on record, according to Bank of England figures which go back to 2004

by Tim Wallace

Home buyers in April paid the lowest interest rates ever on their mortgages, according to the Bank of England.

Earlier in the year banks and building societies scrapped some of the best deals on offer because they expected the Bank of England to start raising interest rates.

Since then, however, forecasts for a rate rise have been pushed back, and some Bank of England officials have even discussed the possibility of a cut to the base rate to below its current 0.5pc level.

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