Are you better off?

What does the Bank of England interest rate cut mean for you?

Decision is good news for people wanting to get a loan and some mortgage holders but not so good for savers

THE Bank of England has announced it has cut its base interest rate from 0.5% to 0.25% in a move to help stabilise the economy after the Brexit vote.

But what does this mean for you? We take a look at some of the key areas where you will be affected:

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Lower mortgage repayments

The lower interest rate will make repayments less expensive for people on tracker mortgagesCredit: Getty Images

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