I'm a homeowner, will I benefit from the cut?

About 50 per cent of existing mortgages are fixed rate deals which will not benefit from the cut, 40 per cent are tracker rates which will track the base rate down and 10 per cent are variable rates so will only fall if the lender decides to pass on the rate cut. In terms of house prices, economists predict that sentiment in the housing market should start to improve as conditions in the credit markets are eased.