Brits snap up lower mortgage deals as BOE rate cut boosts property market

Britain's biggest high street lenders are continuing to slash borrowing costs after the Bank of England's first interest rate cut in four year sparked a boom in homebuyer activity.

Tim Bannister, Rightmove's director of property science, said that, while minimal, the rate cut had brought some relief to struggling homebuyers, adding that he expects activity to pick up further through the autumn.

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European markets open lower amid global sell-off; financial stocks tumble after BOE rate cutEuropean markets extended losses Friday after the Bank of England narrowly approved an interest rate cut.
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