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HSBC, Barclays, and NatWest have reduced mortgage rates in response to the potential Bank of England interest rate cut. Over 1.5 million UK households may benefit from lower mortgage costs this year, with some facing potential increases in the next two years, according to the Bank of England's estimates.
Expectations that the BoE will cut rates this year signals a potential decline in mortgage costs for the 18% of UK mortgage holders on variable rate products. However, the next 2 years will likely still see roughly 30% of homeowners see prices rise by over £100. https://t.co/sy9KJzUJzT
Most of the three million UK households who are paying relatively low mortgage rates will see monthly repayments jump by more than a quarter within two years, according to estimates by the Bank of England https://t.co/wlyoifnulQ
More than 1.5m households are on track to see their mortgage costs fall as the worst of the repayment shocks begins to pass, according to the Bank of England in its Financial Stability Report https://t.co/h8FS3fIQcw
