Reduction In Progressive's Mortgage Base Rate
Monday 15 December 2008
Progressive's mortgage base rate (standard variable rate) will be reduced from 5.50% to 4.99% with effect from 1st January 2009.
In making this pricing decision we have taken account of the continued high cost of funding our mortgage book and the future heavy charge we will be required to pay in respect of our contribution to the rescue of Bradford & Bingley Bank savers and, possibly Icelandic Bank savers.
