Many will not benefit from the cut says L&G
"The cut today is welcome, but sadly many borrowers aren't going to benefit," said Ben Thompson, Mortgages Director at L&G.
"There is no obligation for lenders to reduce their standard variable rates and if last month is anything to go by, most will be reluctant to cut their SVRs significantly because these rates lookOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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