…interest rate cut to 5%
Posted by admin on April 16th, 2008
The Bank of England has cut the base rate 0.25% to 5% on Thursday 10th April 2008.
The cut was widely expected with most commentators being disappointed not to see a more aggressive 0.5% cut.
Even though many lenders are expected to cut their standard variable rate there is still insufficient competition in the mortgage market to force lenders to offer more competitive products.
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