Why the MPC must cut the base rate now

Cheltenham & Gloucester have recently slashed rates across their fixed rate core range by 30 basis points irrespective of loan-to-value as well as cutting rates on its two-year trackers by 10 basis points. Abbey, Halifax and Nationwide have also followed suit of late. It wasn’t so long ago lenders were scared stiff of ending up at the top of the best buy tables for fear of being inundated by consumers and brokers alike. This desire to lend must be a good thing for the wider mortgage and loan markets as we all strive to keep a stiff upper lip during these testing times. The British Chamber...