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True, just 200,000 of those.

Switzerland has experimented with negative interest rates since 2015 (to devalue the SF and its negative effects). In two Cantons this has directly created negative mortgage rates. Borrowers are literally paid interest for borrowing a capital sum to buy a home...

Or if it isn’t directly related to BoE rates, eg LIBOR instead, which the private banks set.

Double edged sword. To bolster the cash of businesses to survive the recession, and make new borrowing cheaper for them.

Deliberately so, according to BBC Business this morning, a coordinated strategy from the Chancellor and BoE to ameliorate the coming recession.

Our mortgage is directly linked to BoE base rates, without a floor, so we will benefit straight away.