UK Money News
21st December 2007
Mortgage borrowers 'can look forward to cheaper costs'
A "scrap" of good news has been received by borrowers on variable-rate mortgages following the reduction of the interest base rate.
Two weeks ago, the Bank of England's monetary policy committee signalled that it had reduced interest rates from 5.75 per cent to 5.5 per cent.
Now, price comparisons site moneyfacts.co.uk asserts that those finding help with money through variable rate mortgages could be celebrating - as just over 50 per cent of lenders have indicated their intention the mirror the move.
However, it adds that a number of the lenders who had been quick to reduce their rates were not those who had a large number of standard variable-rate products.
Julia Harris, analyst at Moneyfacts.co.uk, states: "We are still waiting on a number of the lenders that offer the larger range of SVR linked mortgages, such as Leeds BS, Cumberland BS and Norwich and Peterborough BS to announce their decisions.
"Some borrowers were anticipating some good news will have to be patient for a little longer until they find out their revised monthly repayment"
Many analysts are predicting a further cut in interest rates in the early months of 2008, with some expecting a fall to five per cent by the end of the year.
back to December's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
