Just had a lovely letter from my mortgage provider ‘Standard Life’ informing me that the Bank of England’ has decreased the base rate by 2.5% since Thursday, 6 November 2008. This went on to say that from the 31 December 2008, the Standard Life Bank will decrease its Freestyle standard variable rate from 6.59% to 5.79%.
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Well that makes a full reduction of 0.8%. Thank you very much but where is the other 1.70%? I’m sure the idea of this wasn’t so these money grabbing mortgage lenders could just make more profit out of us. Or am I missing something!!!!!
hi mate, welcome to the site first of all.
I know what you mean about the banks. I live in Holland and we've still got the euro rates which are much higher.
See this link however...
news.bbc.co.uk/2/hi/business/7766364.stm
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