After the recent three-month LIBOR reset, specialist lender Money Partners Limited has dropped its variable rate to 4.65% effective from September 1, 2005.
This means that both discount and variable rates have been reduced for the second time in just four weeks, with a one-year discount on Money Partners’ new Premier product now starting at 4.05%.
There will be no further change to fixed rates as the Origin fixed rate products were changed on August 15 in anticipation of the LIBOR reduction and have been fixed until November 30 2006/7/8 respectively.
Adam Henry, sales director, says: “Consistent with our policy of offering highly competitive and good value products, our discounted rates now start from just 4.05% and our one year fixed rate from 4.49%. This provides our intermediaries with some of the most attractive rates around to offer to their customers.”
The remaining reset date for 2005 is December 1 2005.