Mortgage lenders profit from low base rate

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Mortgage lenders profit from low base rate

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07-30-2009, 03:14 AM

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Mortgage lenders profit from low base rate

Banks are pocketing extra cash rather than passing on lower interest rates to mortgage customers, a Daily Mail investigation revealed this week.Homeowners are paying an average of £1,788 per year more than they should be as banks use the historically low base rate of 0.5% to shore up their ailing coffers.Twelve months ago mortgage rates [...]

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