Bank of England cuts interest rates to historic low of 0.1%

The Bank of England has cut the base interest rate by 0.5%, taking it back down to a mere 0.25%, as part of a package of emergency measures to cope with the economic effects of the Coronavirus outbreak.

The number of both homeowner and buy-to-let mortgages in arrears has fallen compared to last year

A 1% rise 'would add £10bn to the UK's mortgage bill', says Savills, which works out at around £930 per year per mortgaged household...