Deemed a significant boost to the Cost of Living following the recent Bank of England cut
Nationwide has issued a statement to anyone who has borrowed £7,500 from the bank. The building society has introduced new repayment rates for customers and account holders, providing a significant boost to the Cost of Living following the recent Bank of England cut.
"This comes shortly after we doubled our maximum loan amount to help people at a time costs of goods, services and materials have risen." The loan tiers see the old rate and new rates change from £7,500 to £25,000 from 6.4% to 6.1% and from £25,001 to £35,000 from 7.9% to 7.7%.The £35,001-£50,000 tier changes from 8.9% to 8.7%.
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