Thursday, August 4, 2016
Implications of the rate cut for Nationwide customers
Customers on Tracker mortgages get the full 0.25% decrease, Standard Variable Rate reduces from 3.99% to 3.74% and Base Mortgage Rate customers see a cut from 2.50% to 2.25%. Suckers defrauded by Carney's prior rate rise carnival get Jack diddly squat. For those seeking new mortgages or equity release, the Â£500 or so savings per year on, say, a Â£200k mortgage should let you leverage an extra Â£2500k in borrowing power. To be sucked up into house prices very fast.