Summary
BRITAIN'S biggest building society announced a surprise increase in its standard mortgage rate yesterday, raising the typical monthly repayment by Pounds 118.
The Nationwide scrapped its promise that customers on its standard variable rate would never pay more than 2 percentage points above the Bank of England base rate, which is currently 0.5 per cent. The move prompted fears that rivals will follow suit.See the full content of this document
Extract
Mortgage Giant Forces Rates Up Pounds 118
The society claims the change will help it offer higher interest rates to savers who have seen investments hammered by the slide in rates.
From Thursday, tho...See the full content of this document
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