Moneysupermarket: Building societies should be ashamed
www.moneynews.co.uk > Mortgages > Moneysupermarket: Building societies should be ashamed
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Moneysupermarket: Building societies should be ashamed
Fri 17th Oct 2008
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More than a week has passed since the base rate was reduced by 0.5 per cent.
But according to Moneysupermarket.com's figures, just two of 59 building societies are reflecting the cut in their standard variable rate mortgages.
Louise Cuming, head of mortgages at the site, said that providers such as Kent Reliance (7.59 per cent) and Darlington (7.37 per cent) "should be ashamed of themselves".
She did, however, praise Britannia and Melton Mowbray for slashing their rates by 0.5 per cent.
Earlier this week, Moneysupermarket.com warned that many easy access savings accounts are using introductory offers of high rates to attract people.
It said that providers are hoping savers will remain even after the bonus period finishes, with NatWest e-Savings account holders suffering the biggest drop.
After 12 months, the rate falls from 6.5 per cent to 4.3 per cent.
Click here for more mortgage news.
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