Earl Shilton Building Society breaks a record!

Posted on 23 April 2008 by Ray Boulger

Be the first to comment

Earl Shilton Building Society has announced today it is cutting its standard variable rate by a parsimonious 0.05% to 7.35%.

Although several lenders have still not announced any cut at all in their SVR following this month’s 0.25% reduction in bank rate one has to wonder whether it is really worth the admin effort to cut by just 0.05%. Even Northern Rock has managed a 0.1% cut!

A cut of 0.05% must be a record for the smallest SVR cut of any lender for a very long time, and possibly ever, and at 7.35% Earl Shilton’s SVR is now one of the highest of any lender, let alone any building society!

 

 

Categories: Mortgages, Interest rates

Post a Comment

Please keep your comments relevant. Charcol reserves the right to edit or delete comments.

The blog postings on this site solely reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Ray Boulger will accept liability for them.

Terms & conditions

Your initial mortgage consultation is obligation free. There will be a minimum fee for our mortgage service of £450, of which £150 is payable when you apply, and we will retain the commission from the mortgage lender. Alternatively, you can choose the fee only option which is typically 0.65% of the amount borrowed. The precise amount will depend on your circumstances and mortgage loan amount, and will be discussed and agreed before you make a mortgage application.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

Legals

John Charcol is a trading style of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Services Authority; our registration number is 147692. John Charcol Associates LLP is an appointed representative of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Services Authority.  Registered office: Towergate House, Eclipse Park, Sittingbourne Road, Maidstone, Kent ME14 3EN. Registered in England No: 02292688.  This mortgage site is only directed at persons within the UK.   The FSA does not regulate some investment mortgage contracts.  Calls may be recorded for training and monitoring. Max call charge from a BT landline is 3.9p per minute. Calls from other networks may vary.