Following the recent quarter point cut in interest rates to 5.5% by the Bank of England, building so...
Following the recent quarter point cut in interest rates to 5.5% by the Bank of England, building society Stroud & Swindon has announced that it too has cut both its standard variable rate (SVR) and loyalty base rate by 0.25%.
From 14 May S&S customers will see the SVR fall to 7.24% and the loyalty rate to 6.49%. The loyalty rate applies to borrowers who have been customers of the building society for five or more years.
Stroud spokesman Andy Paddock said: "This reduction in our loyaltiy base rate to a highly competitive 6.49% underlines our commitment to providing short, medium and long-term value for all mortgage customers. Customers whose rates are linked to our SVR rate will be cut by 0.25% and once they have been with us for five years they too will move automatically to our lower loyalty base rate."
Feasibility study due
'Let’s be bold enough to demand change'
Joint life second death option added to relieve tax burden on couples gifting assets
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record