Investment Property News - Bueno Investments Limited

Buy-to-let investors with tracker and SVR mortgages will be cheered by the
news that interest rates have been cut to 5.5%.

The Bank of England's Monetary Policy Committee voted for the 0.25%
reduction after recent data showed house prices are continuing to stumble.

The UK's biggest mortgage lenders swiftly followed suit with both Halifax
and Nationwide saying they will pass on the cut to borrowers from January 1.

Halifax said it is reducing its standard variable mortgage rate to 7.5%,
while Nationwide is cutting its SVR to 6.99%.

Many other major high street lenders also said their mortgage rates are
under review following the surprise decision by the Bank.

The pre-Christmas boost for borrowers is the first reduction in the base
rate since August 2005.

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http://www.buenoinvestments.com/uk_property_investment.php (UK property)

http://www.bankofengland.co.uk/ (Bank of England)