Kent Reliance reduces SVR by 0.25% in line with base rate cut

Kent Reliance is to drop its SVR by 0.25% to reflect cuts to the Bank of England base rate made on Thursday 4^th August. The changes will be effective from the 1^st September, and apply to both new and existing customers.

Affected borrowers and brokers are being advised of the changes, and further information can be found on the help section of www.KentReliance.co.uk and www.krfi.co.uk.

John Eastgate, Sales and Marketing Director, OneSavings Bank, comments: “The Bank of England Monetary Policy Committee decided last week to cut the base rate from 0.5% to 0.25% in an effort to cut borrowing costs across the UK. Having reviewed our product range in light of the changes, we have decided to pass on the full 0.25% cut to all mortgage customers on our SVR, effective from the start of September.”

FOR INTERMEDARIES ONLY.