Monthly Archives November 2008

The (short term) Death of the Tracker Mortgage!

In the news this morning there was debate over the anticipated Bank of England Base Rate change. Many were calling for a 0.5% reduction while other specialists suggested something more drastic like a 1% reduction was needed. There was fear however that a reduction of as much as 1% might scare the markets because if many were calling for 0.5% but the Bank cut them by 1% then what does the MPC (Monetary Policy Committee – responsible for setting the base rate) know that the rest of us don’t…? So a drastic reduction of 1.5% suggests ‘there may be trouble
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