interest only mortgages

[paddy20]

will an interest only payback mortgage get the full interest rate change

[dzug]

There's no such thing as an 'interest only' 'payback' mortgage - it's a contradiction in terms.

Whether whatever mortgage it is gets the full change depends on the mortgage company and the terms of the mortage.

[EverClean]

Ask your lender.

[david small]

In general a fixed mortgage will see no lowering of payment for the term of fixing ie two/three years.
A tracker mortgage will follow the base bank rate so you should pay less, it depends on the lender if they pass on the lower rate or not. Whatever, you never own a brick of the property...ever.