Property News · August 4, 2016

Lenders urged to pass on interest rate cut to borrowers


Bailed-out banks NatWest and Lloyds appear reticent to cut SVR rates despite warning from Bank of England governor Mark CarneyLenders have been told that they have “no excuse” not to pass on the Bank of England’s base rate cut to borrowers – although the two bailed-out banks said they had yet to decide how to react to the decision.Shortly after the Bank cut rates to a new record low of 0.25%, NatWest, owned by bailed-out Royal Bank of Scotland, admitted it had not yet decided on whether or not to pass on the quarter point cut to interest rates to its variable rate mortgage customers. Continue reading…

Source : theguardian.com
Read more…Lenders urged to pass on interest rate cut to borrowers

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