Building societies ‘won’t be able to compete with banks on pricing’

written by Lucie Osman on August 9, 2016 in Press Coverage with no comments


Edward Checkley, of Private Finance mortgage brokers, said: “The gap between banks and building societies does significantly widen as a consequence of base rate reduction.

“Plenty of building societies will only lend their savings deposit monies. They lend based on their own standard variable rates and can’t compete with the general market when it comes to base rate trackers.”

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