Standard Life Bank passes on interest rate cut

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Standard Life Bank passes on interest rate cut

Standard Life Bank today announced that it will be passing on a full interest rate cut of 0.25 per cent for its mortgage customers.

This brings the standard variable rate (SVR) to 5.95 per cent from September 1st 2005.

New customers will also be able to take advantage of a new nine-month discounted Freestyle mortgage that comes with a variable rate of 4.55 per cent.

Andrew Boddie, head of marketing at Standard Life Bank, said: "At Standard Life Bank we design our products to suit the needs of our customers through every stage of their life."

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