Northern Rock mortgage borrowers will not all receive the full benefit of last week’s cut in the base rate.The nationalised lender’s tracker rate customers will see the full 1% reduction but for those on its standard variable rate (SVR) the reduction will be 0.5% taking the rate down to 5.34%, from 1st January. Mortgage borrowers, [...]

More: Northern Rock hedges on latest base rate cut

I am absolutely shocked that The Northern Rock have not passed on the full 1% interest rate cut. I have just received a letter stating that they will cut their Standards Variable Rate (SVR) buy only 0.5%. It seems amazing to me that after being bailed out by us, the tax paying public they have stuk their middle fingers up at us and the chancelor only bot given us the full 1% cut.

I would love to hear what others have to say on this matter. Also please use the link below to petition The Govenment.

with considerable anger and upset,

Kevin

Petition number 10 to force Northern Rock to pass on the full base rate cut... petitions.number10.gov.uk/nr-rate-cuts/