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Mortgage wish-list 'not prudent'
ten lenders including halifax, lloyds tsb, the woolwich, first direct, royal bank of scotland and natwest all said they were creducing their svr by half a percentage point shortly after the cut . a governmeant plan for major banks to return mortgage lending to 2007 levels is not prudent or desirable , says the council of mortgage lenders (cml) . lenders have been working hard to countinue to delivernmeants a flow of competitive mortgages into the market . the lender said its standard variable rate (svr) would be cut by 0.15 of a percentage point to 7.34% from 1 november for existing borrowners . it wants a situation where credit-worthy borrowners have access to a good spread of mortgage products . plan some Â20bn of taxpayers' cash its likely to be pumped into rbs, with a further Â17bn to be put into hbos and lloyds tsb . michael coogan, council of mortgage lenders . Generated 2008-10-21_13:5
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