Borrowers urged to ditch trackers for fixed rates

After rapid cuts in the Bank of England base rate, which has fallen 3.5% in just a few months, and Bestinvest says mortgage customers are unlikely to benefit from any further cuts and should consider the long-term when arranging their next home loan. Bestinvest's research found less than 50% of mortgage lenders have passed on some or all this month's 0.5% cut in base rates, and the firm expects more lenders to put 'collars' on their rates. Nationwide and Halifax, some of the largest lenders in the UK, have already collared their rates, and tracker customers will not benefit from any fur...