Four mortgage lenders pass on full rate cut
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Four of the UK's biggest mortgage lenders today said they would be passing on the latest interest rate cut in full to their variable rate customers.
Lloyds TSB, which also lends under the Cheltenham & Gloucester brand, Nationwide, Halifax and Barclays' lending arm the Woolwich are all reducing their standard variable rate (SVR) by 0.5%.
But as three of the groups pledge that their rate will never be more than a set percentage above the Bank of England base rate, they had little choice but to pass on the cut, while the Woolwich failed to reduce its SVR following January's reduction.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments