The bank of England cuts interest rates by ¼% to 5% - mortgage lenders say they will pass the cuts on to their customers

http://news.bbc.co.uk/1/hi/business/7340142.stm

hang on! - didn't mortgage companies just withdraw most of their most competitive mortgages in an effort to reduce borrowing?

Nationwide (who I recently fixed my mortgage with) have a 5 year fixed mortgage for 5.83% with £499 arrangement fee...

0.2% higher than I fixed my mortgage at and £499 more expensive!

James.