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Yesterday’s interest rate cut was another boost for homeowners with mortgages . It is the fifth cut since August and provides welcome relief to borrowers. ‌

The Bank of England’s decision also draws a contrast between the stability of Labour and the chaos of the Tories. As Prime Minister, Liz Truss’s disastrous mini budget sent the markets into a spiral and led to a hike in interest rates. ‌

People on fixed rates whose deals came to an end were hit with a double whammy of higher mortgage rates and soaring inflation. The Tories played politics with people’s lives and the country is still suffering. ‌

The fact rates are going down is a sign the UK has a responsible Government again. It has been a tough opening year for Labour, given the ropey finances they inherite

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