Banks to pocket an extra twenty one million per month

Published ¤ 05/06/2009

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Banks are urged to stop profiteering - as they look to make an extra 20.1 million pounds per month from unsuspecting mortgage customers who are coming off fixed, discounted, tracker and capped rate deals and moving onto standard variable rates.

Despite an unprecedented low base rate of 0.5 per cent and an all time low LIBOR, banks are failing to pass on the full benefits to their customers.
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