Bank Groups Agree to Pass On Rate Cut ; Relief at Last for Mortgage Customers

Summary

---

NATIONALISED banks Northern Rock and Bradford & Bingley were yesterday among a host of lenders to announce they were passing on yesterday's 1.5% interest rate cut in full to mortgage customers.

A number of major groups, including Britain's biggest mortgage lender Halifax, Nationwide Building Society, Royal Bank of Scotland and NatWest, all said they would be reducing their standard variable rate by the full amount.

See the full content of this document

Extract

---

Bank Groups Agree to Pass On Rate Cut ; Relief at Last for Mortgage Customers

They join Lloyds TSB, which also lends under the Cheltenham & Gloucester brand, and Abbey, which both announced cuts of 1.5...

See the full content of this document

---