Investment Property News - Bueno Investments Limited

Mortgage lenders have rushed to announce they will be passing on the 0.25%
interest rate cut in full.

After the Bank of England's Monetary Policy Committee (MPC) voted to cut
rates by a quarter point, Halifax, Nationwide, Abbey and Royal Bank of
Scotland/NatWest all said they would be cutting their standard variable
rates.

Lloyds TSB, which also offers mortgages under the Cheltenham & Gloucester
brand, Barclays' mortgage arm the Woolwich, HSBC and first direct had
previously announced they would mirror the MPC's move ahead of the decision.

Homeowners with a typical £100,000 mortgage are likely to find their monthly
repayments fall by about £16 a month to £722.80, based on a new rate of
7.25%.

Those who are heavily mortgaged with a home loan of £250,000 will see around £40 knocked off their monthly repayments.

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