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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

UK interest rate cut: what does it mean for mortgages and savings?

Nicholas Mendes Moneyfacts UK Finance
Two women with their backs to the camera study an estate agents window, in Kentish Town, London
Earlier this year there was a mortgage price war, with lots of lenders cutting the cost of their new fixed-rate deals. Things have calmed down a little since. Photograph: Yui Mok/PA

The Bank of England has cut interest rates from 4.25% to 4%. It is the fifth reduction in a year and takes rates back to where they were in March 2023.

Will my mortgage get cheaper?

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