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Lenders reluctant to pass on rate cut to homeowners

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  • Lenders reluctant to pass on rate cut to homeowners

    Banks and building societies are under growing pressure to reduce their interest rates in line with the Bank of England’s 1.5% cut in the interest rate.Following yesterday’s rate cut, approximately 30 lenders withdrew their tracker mortgage products from the market. Brokers are warning that the few remaining are likely to be pulled over the weekend.So [...]

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  • #2
    rate cuts

    Many of the big lenders are now passing the rate cuts on via their standard variable rate.

    As LIBOR has now dropped by 1% we will hopefully start to see reduced rates for new borrowers as well/

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