The Council of Mortgage Lenders has welcomed the Bank of England's Monetary Policy Committee's decision to cut interests by a quarter per cent.
Director general Michael Coogan says: "Once again the base rate cut is welcome. It will help reassure mortgage borrowers at a time when other economic data is less positive.
"Mortgage rates have the capacity to fall further during the course of this year which will provide a welcome boost to affordability for home-owners."
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