News

News Added: Mon(05)-Dec-`08

Interest Rates Reduced 3 months running!

Good news for home owners again this month as the Bank of England yesterday announced it would be reducing interest rates by a further base point bringing the cost of borrowing to an all time low of 2%.

What does this mean for the homeowner? Well, typically a homeowner with a £100,000 mortgage will see their monthly costs reduced by around £70 for those with a tracker or SVR mortgage (standard Variable Rate).

Up to today only 4 of the big mortgage lenders said they would be passing the full 1% reduction onto their customers. These are HSBC, Barclays, Lloyds TSB and Bristol and West. HBOS, the UK’s largest lender have only passed on 0.25% of the rate cut maintaining that it had to keep its ‘savers’ happy too and an equal balance maintained.

News Added: Fri(21)-Nov-`08

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News Added: Fri(21)-Nov-`08

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