Lloyds TSB pledges to pass on cut to mortgage-holders
www.moneynews.co.uk > Mortgages > Lloyds TSB pledges to pass on cut to mortgage-holders
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Lloyds TSB pledges to pass on cut to mortgage-holders
Wed 7th Jan 2009
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The Bank of England is widely expected to announce a further cut in the base rate tomorrow, which Lloyds TSB claims it will then pass on to customers on February 1st.
Lloyds TSB said that its tracker mortgages, which unlike those of some other lenders do not have a collar or floor imposed on them, could drop to as low as zero per cent interest should the Bank of England decide to go that low.
However Lloyds said that it would not be issuing any new tracker mortgages as from today.
Earlier today experts from HiFX predicted that a lowering of the interest rate to zero per cent is unlikely.
Chris Towner, Senior currency strategist for the currency exchange provider, predicted: "The most likely scenario is that tomorrow we will see a compromise of between 0.5 and one per cent worth of cuts, but the market certainly this time around will be braced for all eventualities."
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Related News : Mortgages |
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Related News : LloydsTSB |
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