The Week Unzipped: Sainsbury's cuts rate for loans

Published on Saturday 27 December 2008 12:56

SAINSBURY'S Finance has cut the rate of its online personal loan to 8.2% for customers looking to borrow between £7,000 and £15,000.

The 0.7% reduction is available for a limited time to customers who apply for the loan online.

SVR lowered

SKIPTON Building Society has reduced its standard variable rate to 5% following December's cut in the Bank of England base rate.

The new rate is effective immediately for new mortgage applications, and from January 1, 2009, for existing mortgage customers.

Merger confirmed

THE Financial Services Authority has confirmed the proposed merger of Barnsley Building Society with the Yorkshire Building Society.

The decision follows a hearing about the merger on December 15.

New savings deal

NORWICH & Peterborough Building Society has launched an E-Saver Account paying 3.25%.

The online account is for new and existing customers over the age of 16.