Response to ‘Funding For Lending’ programme

Which? executive director Richard Lloyd said:

“We welcome the Chancellor’s new “Funding For Lending” scheme, but want to see clear safeguards in place to ensure that banks pass this cheap credit on through loans to small businesses and to consumers through lower interest rates on their mortgages. Over 1.2 million people have already seen rises in their mortgage Standard Variable Rates which will cost them over £300 million in the next year.”

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