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The third rate cut since December
Fincial analysts have said that the slowdown in the economy and the continuing credit problems have forced the government to lower the base rate even though there is a risk of higher inflation causing even more long term problems.
The Woolwhich, therefore, Halifax, Nationwide and Barclay's mortgage customers will see their standard variable rates cut by the full quarter of a percentage point. Mortgage lenders have forseen this decrease in the base rate and have been increasing the rates attached to tracker mortgages over the past few weeks.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
This site is intended for UK residents only. The overall cost for mortgages for comparison is % APR.
The actual rate will depend on your circumstances. APR variable and based on a usual case.
Grovelawn Financial is a trading name of Grovelawn Limited, which is authorised and regulated by the Financial Services Authority.
Grovelawn Limited is Registered in England & Wales number 5030300. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY.
Entered on the Financial Services Authority's Register — Register Number: 314204 — Consumer Credit Licence Number: 573287
The Financial Services Authority (FSA) do not regulate some types of buy to let, commercial, overseas mortgages, tax advice and credit or loans not secured on property.