Mortgage prices fall as lenders pass on rates

The most recent base rate cut appears to have had some effect.

The Financial Times reports that lenders are passing on rate cuts to borrowers, and fixed rate mortgage deals are falling in price.

There are conditions to these cheaper deals; consumers are advise to watch out for the conditions of the mortgages later on.

Some lenders, for example, offer borrowers a cheap fixed rate for only one year, after which they are moved to a tracker rate with a high premium over the base rate.

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