Coventry Building Society slashes Tracker Mortgage rates

Coventry Building Society have announced they will be passing the full 1.5 percent interest rate cut made by the Bank of England last Thursday, following the lead from many of banks and building societies, including RBS, Nationwide, Abbey, Lloyds TSB, HBOS, Northern Rock, NatWest and Halifax.

Barclays, Woolwich, HSBC and Alliance & Leicester Standard Variable rates are still under review.
Coventry Building Society will reduce on December 1 2008 its Standard Variable Rate (SVR) to 5.34 percent from 6.84 percent.

The Tracker mortgage rate at Coventry will also be reduced by 1.5 percent also from December 1. 2008.

Coventry Building Society currently has 48 branches.

Source: MortgageIntroducer