Northern Rock Snubs government
Published / Last Updated on 07/12/2008
Northern Rock Snubs government
Northern Rock, the now Nationalised Bank, technically owned by the people, has given the financial ‘two fingers’ to the Government by not reducing its standard variable interest rate by the full 1% reduction in base rates.
It has only reduced rates by 0.5%. For those currently in a tracker deal with Northern Rock, they will still see a full 1% reduction as it is part of their contract.
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