Rat and Mouse
Thu
06
Nov
Yesterday's tracker mortgages cull

Yes, we're going to get a rate cut today. No, we probably shouldn't get too excited. The response, yesterday, from Woolwich, Lloyds TSB and Northern Rock was pretty unambiguous.

Woolwich, Lloyds TSB and Northern Rock yesterday all removed tracker mortgages, which follow the movements of the Bank of England base rate, ahead of today’s expected interest rate cut. The moves followed Abbey’s decision on Tuesday to pre-empt a half-point cut in interest rates by increasing its margin on tracker mortgages by 0.5 percentage points.

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