HSBC passes on rate cuts
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Money News |
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HSBC passes on rate cuts
Fri 5th Dec 2008
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The bank moved swiftly to announce the cuts, which will also see interest rates reduced for its tracker mortgage customers.
HSBC UK managing director Paul Thurston said: "We are committed to helping our personal and business customers through what are very difficult times and passing on the reduction in full will be a welcome relief for many."
He added that the bank was "very much open for business", claiming that lending for mortgages had actually increased by 60 per cent over the first nine months of 2008.
The Bank of England reduced the base rate of interest to two per cent yesterday, having cut it by a total of 2.5 per cent over the last month.
Click here for more mortgage news
Related News : Mortgages |
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Related News : Banking |
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Related News : Loans |
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