Sell or let your house privately online
Houseladder.co.uk
 
Bookmark and Share

Advertise FREE
Sell your property FREE
Let your property FREE
Rent your room FREE
List your Agency FREE

Guides
Buyers
Landlords
Sellers
Tenants
Free ebook
For Sale & To Let Boards

Finance
Credit cards
Loans
Mortgages
Savings

Legal
Building survey
Conveyancing
Credit checks
EPCs
Gas safety certicates
HIPs
Inventory checklist
Tenant deposit scheme
Tenant reference checks
Tenancy agreements

Insurance
Heating insurance
Home insurance
Landlords insurance
Rent guarantee

Moving
House removals
Moving boxes
Self storage
Van rentals

Utilities
Broadband
Electricity
Gas
Home phones
Mobile phones


Books
Property Books
Tax guides

Search For
Property For Sale
Property For Rent
House Prices
Agents


Bookmark and Share

Mortgage lenders 'failing to pass on rate cut'

Posted: 05 Nov 2008 14:33:41 GMT

Property News - Mortgage lenders 'failing to pass on rate cut'

More than 30 mortgage lenders have yet to pass on last month's 0.5 per cent base rate cut to their mortgage customers.


According to a new report from consumer website moneysupermarket.com, a further 34 providers have opted not to pass on the full benefits of the reduction to their standard variable rate (SVR) customers.

Among these financial institutions, reductions of just 0.3 per cent, and in some cases 0.1 per cent, were the norm, the report revealed.

Louise Cuming, head of mortgages at moneysupermarket.com, suggested that some lenders are hoping their SVR customers "won't notice they are shelling out more than they need to on monthly repayments".

"This kind of attitude does nothing to rebuild consumer confidence in an area that is already suffering from reports of less than helpful practices among some lenders," she added.

This week, the Association of Mortgage Intermediaries (AMI) called upon the Bank of England to cut interest rates by a further one per cent in order to help stimulate the property market.

© Houseladder Ltd


Advertise Your Property Here FREE!! 
Reach 400,000+ buyers & tenants every month.
List Your Property Free!
Advertise Your Property Free Now
ebook
FREE Property eBook worth £47! 
Packed with money saving tips for
buyers, sellers, tenants and landlords!
Claim FREE Property eBook Now!
HMV, Comet, Argos, M&S, Boots and 1000s more
We pay you £5 to join
And £5 to refer a friend
Save Money Now
house prices
Discover how much a property was ACTUALLY sold for!

PLUS find out how many properties were sold in each month, not just for the England and Wales, but also by postcode or your selected location.

Unlimited FREE access to House Price Data >>
News Categories
News Archives