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Uncertainty as Bank of England meet.
The Bank of England will meet tomorrow to review the base rate.
The rate currently stands at 5.75%. Any changes tomorrow could have a serious effect on the mortgage market as the majority of lenders are yet to decide on product re-pricing for the medium to long term. They appear to waiting for this months review before changing their own rates accordingly.
Due to a degree of uncertaintly as the shock waves of the credit crunch are felt, it is likely that not all lenders will reduce their rates as a consequence of a downward movement making the mortgage market even more complicated than at present.
