The Bank will pass on the entire 0.25 per cent reduction in the base rate to both new and existing customers with variable rate mortgages, effective from 1st September 2005.
Nick Broughton, retail lending director, commented: "The reduced interest rates, combined with our high levels of service and underwriting expertise, offer an attractive package for a mortgage intermediary to present to clients."
Heritable Bank offers buy-to-let, self-certification, semi-commercial and status mortgages in England and Wales. The product range includes options for customers to avoid extended early repayment charges and, for buy-to-let customers, a LIBOR-linked interest rate that is reviewed every three months. The Bank offers mortgages to expatriates, foreign nationals and limited companies, both in the UK and offshore.
