Mortgage borrowers are benefiting from intense
competition on the high street following the biggest squeeze on profit margins
for two years. The Bank of England reported that in the final three months of
2017, the difference between the central bank’s base interest rate and the
average mortgage rates charged to borrowers “narrowed significantly”. The last
time Threadneedle Street officials reported a sharp decline in the cost of
borrowing was around Christmas 2015, before the Brexit vote, as the UK enjoyed
its highest sustained rate of GDP growth since the 2008 crash and demand for
homes rocketed. Read more on the Guardian website.
