HBOS Increases Mortgage Rates Despite Brown Appeal
Despite calls from Gordon Brown to lenders to follow the Bank of England’s rate cut, HBOS has increased mortgage interest rates on a range of its two year fixed rate deals.
The move by the country’s biggest mortgage lender came only hours after a meeting between UK’s top bankers and the Government.
Industry experts said this interest rate increase proves that mortgage lenders are being unable to handle the demand and demonstrate a lack of belief between banks and the Government.
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