NatWest and Skipton became the latest lenders to confirm plans to pass on yesterday’s full 0.25% Bank Base Rate cut to their customers on Standard Variable Rates (SVR).
NatWest will be bringing its rate down from 4% to 3.75%.
Ross McEwan, NatWest parent company, Royal Bank of Scotland CEO, said: “We’re passing on the base rate cut in full to our valued mortgage customers on our Standard Variable Rate. We have been the fastest growing large UK bank with net lending growth of over £20bn in the first half of the year – higher than any other bank. We’re open for business and ready to lend responsibly to homebuyers up and down the country.”
From 1 September, Skipton Building Society, the UK’s 12th biggest lender will pass on the cut to its SVR and Mortgage Variable Rate customers, bringing its rate down from 4.95 to 4.70%.
The Yorkshire-based mutual will be writing to all affected customers.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
