Finance Matters

From This is Money:

The Bank’s half-point cut is the first such move since the aftermath of the 9/11 terror attacks in November 2001. It is hoped that it will feed through to the mortgage market and there will be heavy pressure on banks to cut their standard variable rates.

This is Money will bring you lenders’ mortgage rate cuts as they happen.

• Cheltenham & Gloucester has cut its SVR by 0.5% to 6.5%

• Halifax has cut its SVR by 0.5% to 6.5%

• Natwest has cut its SVR by 0.5% to 6.69%

• RBS has cut its SVR by 0.5% to 6.69%

• Woolwich has cut its SVR by 0.5% to 6.64%

• What happened last time: April’s rate cuts

Will your rate fall?
Borrowers on variable rate mortgages will see their repayment costs fall, while those on fixed rates will remain on the same rate until their deal period runs out, although it is hoped the cost of new fixed rate deals will fall following the rate cut.

Those on bank rate tracker mortgages will see…

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