Financial Times FT.com

Tracker mortgages axed as base rate cut expected

By Elaine Moore

Published: November 6 2008 02:00 | Last updated: November 6 2008 02:00

Mortgage providers have pulled more competitive deals from the market, despite appeals from the prime minister for lenders to pass on cuts in interest rates.

Woolwich, Lloyds TSB and Northern Rock yesterday all removed tracker mortgages, which follow the movements of the Bank of England base rate, ahead of today's expected interest rate cut.

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