The Bank of England is expected to cut interest rates today by a further 1%.

This would leave the base rate at just 2%, its lowest since 1951.

A rate cut could make it easier for borrowers and homeowners to get a mortgage or remortgage their home at an affordable rate.

There has, however, been anger at lenders who so far have set a 3% collar on tracker mortgages, meaning that any further rate cuts will not be passed on to the consumer.