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Mortgage Rate & Base Rate?
When banks advertise their mortgage interest rates, does that typically include the Bank of England Base Rate or does one need to recalculate the using the advertised mortgage rate with the base rate?
3 Answers
- linkus86Lv 79 years agoFavorite Answer
Yes the rate includes The Bank of England base rate unless otherwise noted. Usually this info is offered in the fine print of the ad.
- ?Lv 79 years ago
The base rate is just that - the base so when they advertise a mortgage rate it is the base rate plus the lender's own interest so there is no need to recalculate or add the base rate back in - it is already included.
