UK consumers experiencing mortgage repayment problems might well finally get the break they've been hoping for as providers begin to pass on interest rate cuts to their customers.
Although the base rate of interest has fallen a number of times over the last few months, some providers have failed to reduce their SVR and offer lower repayments to customers.
However, after calls from the government to offer better deals and another base rate cut of 0.25%, many of the leading mortgage providers have now bowed to pressure. The Bank of England now hope that the property market will see an upturn after an incredibly slow start to 2008.