UK homeowners fail to benefit from Bank cuts

Cuts to the Bank of England's benchmark rate have had little impact on mortgage rates for some British consumers, data published by the Bank reveals.

The latest statistics on UK mortgage rates, published on Tuesday 11 March, show that the average borrowing costs for some two-year fixed rate mortgages, the UK's most popular type of home loan, rose last month despite a quarter-point rate cut.

Bank data showed that the average rate of interest charged on a two-year fixed rate mortgage for consum

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