Scottish Widows cuts home equity loan rates

Scottish Widows Bank has reduced the interest rate on its Home Equity Loan from 8.19% to 7.75%. The group explained the cuts were made possible by employing, what it calls, market-leading treasury techniques. Rob Golbourn, Managing Director of Scottish Widows Bank, commented: "We have been working with the Treasury and Group Balance Sheet Management at Lloyds TSB to develop this highly innovative risk-management technique which we believe gives us a real competitive edge in the market and which competitors will find hard to match. We are immediately passing the benefit on to customers ...