Halifax, the UK's largest mortgage lender, said it was passing on the full 1.5% interest rate cut to customers on its standard variable rate.
Meanwhile, Nationwide became the first building society to announce it was passing on Thursday's 1.5% interest rate cut to its variable rate mortgage customers.
The group announced it was cutting its standard variable rate, which it calls the base mortgage rate, by the full amount to 4.69% from December 1.
It joins only three other lenders - Lloyds TSB, Abbey and Scottish Widows - which have so far said they will pass on the cut to borrowers.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
strange old lot NR i owed them 50k of my 75k debt and they didnt even cast a vote at my iva meeting out of the 75k only 3k voted now they want sky high dividends[:I]
This is great news!
I really hope that Mortgage Express (owned by Bradford and Bingley) do too as I have just switched to an interest only mortgage and would love to go back to repayment, so fingers crossed that they follow suit XXXXXXXX
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I cant wait for our fixed rate to end coz we are with tsb and their SVR is less than our current fixed rate!! Anyone think the rate will stay low for a while?? Could it go lower still??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
