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References in periodicals archive ?
But the base mortgage rate, which was 0.5 per cent lower, was only given to 600,000 customers.
The mutual maintained its Base Mortgage Rate pledge, which has seen many borrowers revert to a rate capped at 2% above the Bank of England's 0.5% base rate.
The UK's largest building society has one of the lowest standard variable rates - which it calls the base mortgage rate (BMR) - on the market at just 2% above the 0.5% Bank of England base rate, giving a current rate of 2.5%.
BANK OF Cyprus (BoC) will cut its base mortgage rate by a full one per cent to 4.25 per cent in early June "as a first step in the gradual de-escalation of our interest rates," BoC CEO Andreas Eliades announced yesterday.
The SMR is considerably higher than the group's current standard variable rate, which it calls the base mortgage rate (BMR), of 2.5 per cent.
The rates are higher than Nationwide's standard variable rate, or its base mortgage rate, which is currently at 6.49 percent.
Nationwide said it was increasing its base mortgage rate by the full 0.
Nationwide said it was increasing its base mortgage rate by 0.25pc to 5.74pc from July 1 following the decision by the Bank of England this week to raise interest rates to 4.5pc.
Nationwide are cutting their base mortgage rate by 0.25 per cent to 5.49 per cent - their lowest rate since 1956.
The mutual revealed in its annual result that customers on its base mortgage rate were costing it more than pounds 450m a year compared with the rates being charged by competitors.
New customers wanting to take out the group's standard variable deal, which it calls its base mortgage rate, will now need a deposit of at least 25 per cent, while the maximum amount the group will advance on any of its mortgages to new borrowers is being capped at pounds 500,000.
Nationwide is increasing its base mortgage rate by 0.25% from July 1.