Following the recent 1.5% base rate cut, and in response to calls from the Prime Minister, Gordon Brown, a number o major lenders in the UK have said that they will be passing on the full 1.5% rate cut to borrowers over the coming weeks. As hoped by the government this could help to ease the financial situation for many consumers, and could ultimately help to boost the flagging economy, as consumers find themselves with more money to spend in the run up to Christmas. (more…)
Tags: prime minister, nationwide, bank of england, base rate, gordon brown, council of mortgage lenders