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UK interest rates slashed 1.5% to 3%

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  • UK interest rates slashed 1.5% to 3%

    The Bank of England’s Monetary Policy Committee has opted to slash rates 1.5% to 3%. Many analysts believed that a half percentage point cut was on the cards but the Bank has opted for an aggressive cut after it has been under severe pressure to cut interest rates to avoid a prolonged recession. Figures yesterday [...]

    More: UK interest rates slashed 1.5% to 3%

  • #2
    Will be interesting to see how lenders standard variable rates change over the coming weeks.

    A few lenders said they would pass on the entire of the rate cut to lenders via their SVR, however, they may not of realised quite how big a cut was coming.

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    • #3
      Don't think there is any excuse for not passing the reduction in full to mortgage holders on standard variable rates. What they will do for anyone else is anyones guess!
      Last edited by MarkD; 06-11-2008, 10:08 PM. Reason: sp
      Mark
      Bridging Loans | Property Development Finance

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