View more on these topics

Halifax will not apply tracker collars

Halifax will pass on any Bank of England rate cut in full and will not apply its tracker collar.

All other HBOS brands will also be passing on the rate cuts to existing tracker borrowers.

A release from the lender says: ” As always, no decision will be taken on the SVR until after a decision by the Monetary Policy Committee.

“HBOS will also pass on the full benefit from any future Bank base rate reductions, including any decision today, to all of their existing customers with tracker mortgages.

“This will benefit a further half a million customers with tracker mortgages. The existing terms and conditions of these tracker mortgage customers state that they will pass on any future base rate reductions in full. “

Recommended

Paintings by numbers

Every cloud has a silver lining as they say and we bet art lovers at the Financial Services Authority will be salivating at the prospect of adding to the organisation’s £250,000 collection (according to a 2006 valuation) when bankrupt Lehman Brothers sells $8m worth of art that once adorned its offices.

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

Newsletter

News and expert analysis straight to your inbox

Sign up