Legal & General: Base rate cut will not help

Money News

www.moneynews.co.uk > Mortgages > Legal & General: Base rate cut will not help

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Legal & General: Base rate cut will not help

Legal & General has claimed that the Bank of England's most recent base rate cut will not help the ailing economy.

The savings and pensions provider claimed that the move would not help savers. It said discouraging saving "is at odds" with the current needs of the market.

Legal & General added that although the cut may potentially make mortgages cheaper, banks and building societies' interest rates have become "out of tune" with the base rate and there is a risk they will not pass on the latest cut to customers.

The pensions provider added: "The Bank of England is prescribing the wrong drugs in terms of the mortgage market and it is starting to make this market look more sickly."

Yesterday the Bank of England announced that it would reduce the base rate of interest to one per cent with immediate effect.

Click here for more mortgage newsADNFCR-323-ID-19013813-ADNFCR

Related News : Mortgages

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Legal and General

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet