I've just heard, HSBC have announced that they will not be passing on interest rate cut to customers
Thus confirming what I suspected, that banks would not allow mortgage payments to reduce overall.
However that is quite a bold and leading assertion from them, and kind of puts the kybosh on any otjher banks passing on rate cut.
I suspect that tracker mortgages will be thin on the ground.
I havnt seen if this will affect libor or business loans