The Bank of England’s decision not to adjust the base rate has been an initial blow to those looking for the best remortgage deal, but many lenders are confident that there will be a cut soon, reports MortgageSorter.co.uk.

This will mean mortgage rates could fall too, which will be welcome news for anyone wishing to remortgage. While the rate will remain at five per cent for the next month, oil prices are falling and some lenders - including HSBC - believe the Bank’s Monetary Policy Committee will drop the rate next month.

This could certainly add some stability to the remortgage market.

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