A mortgage advisor has claimed that the Bank of England's decision to keep interest rates at 0.5 per cent is good news for borrowers who will see rates continue to drop.
Ray Boulger, spokesperson for John Charcol, explained the decisions on base rate and quantitative easing have become "all about the politics".
Further to this, Mr Boulger insisted the outcome of the next general election is likely to have a significant impact on the cost of mortgages .
He claimed the Bank's decision to leave interest rates at 0.5 per cent is positive news for borrowers because "while bank rate remains dormant, mortgage rates continue to drift lower".
While the markets remain uncertain, however, Mr Boulger implored potential borrowers to seek expert advice before accepting a mortgage deal .
"Seeking independent mortgage advice on your own specific situation has arguably never been more important," he said.
The Bank of England's current rate of interest is the lowest in its history.
Interest rate decision is good for mortgage holders
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