Mortgage borrowers eagerly awaiting the Bank of England to finally dropping interest rates have been issued a word of caution.

Jo Pocklington, managing director at Purplebricks Mortgages, spoke to Express.co.uk about rate predictions and what it means for borrowers, with the base rate held at 5.25 percent in the central bank’s latest decision.

She said: “Market expectations suggest at least one rate cut in 2024, with the small possibility of a second cut.”

But she warned that the drop in rates…