In the News - Abbey
Abbey raised fixed mortgage rates after £50bn bank bail-out
Abbey, the UK's third largest lender, announced yesterday that it will raise some fixed rate mortgage rates. The move came just hours after a £50 billion bank bail-out plan was announced by the Bank of England, which is designed to ease credit fears in the lending market and make the cost of borrowing cheaper.
Despite repeated cuts in the base interest rate by the Bank of England, many banks and building societies have continued to raise their mortgage rates (as reported in 'In the News' on 11 April 2008).
(Sources: Guardian.co.uk)
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22-Apr-2008 10:22:06
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