Banks helping borrowers

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/7359358.stm

The Bank of England's plan to ease the credit squeeze has had an immediate impact with one of the UK's largest lenders cutting rates on some deals.

Abbey's 0.1% cut on its two-year tracker and flexible mortgages from 30 April represents a tiny proportion of the mortgage market.



If 0.1% cut in interest makes much difference to a borrower, they borrowed far too much.

[Dow Jones]

Sh-abbey

Doubt it - one of the worst culprits.
Sh-Abbey have just withdrawn all their BTL mortgages (not that you'll ever consider them) to 'concentrate' on their residential ones AND at the same time raising the fixed rates for the latter by up to 0.6%.
It's a game - the banks are playing cat-and-mouse with this incompetent PM/Chancellor/BoE Gov'nr/FSA Chairman so that they can maximise their profits.