Earl Shilton Building Society breaks a record!

Posted on 23 April 2008 by Ray Boulger

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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!

 

 

Category: Interest rates, Mortgages

 

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