Alliance & Leicester Mortgages cuts SVR rate
www.moneynews.co.uk > Mortgages > Alliance & Leicester Mortgages cuts SVR rate
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Money News |
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Alliance & Leicester Mortgages cuts SVR rate
Fri 11th Apr 2008
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Existing customers will see their rate trimmed to 7.19 per cent from 7.44 per cent from the May 2nd 2008, while new customers can enjoy the decreased rate from April 23rd.
The bank is also cutting the rate on tracker mortgages by the same amount, which will come into effect on May 1st for existing customers and April 15th for new ones.
It has said it will be writing to customers shortly to inform them of the changes to their monthly payments.
Legal & General predicted yesterday that the base rate cut will have a "minimal" effect on borrowers.
It suggested that anyone with less than a 25 per cent deposit will be facing higher rates on their mortgage than they were six months ago, regardless of whether lenders reduce their rates by a quarter point or not.
Related News : Mortgages |
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Related News : Alliance & Leicester |
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