C&G Cuts Standard Variable...

C&G CUTS STANDARD VARIABLE MORTGAGE RATE TO 5.50% Following the Bank of England's decision to cut interest rates by 0.25% Cheltenham & Gloucester has reduced its Standard Variable Mortgage Rate by 0.25% to 5.50%. The change will take effect from 14 July for new customers and 01 August for existing customers on or linked to our Standard Variable Mortgage Rate. Tracker rates will continue to reflect the movement of the Bank of England base rate to which they are linked and reduce by 0.25%. ENDS Notes to Editors 1. Monthly payments on interest only mortgage on C&G Standard Variable Mortgage Rate Loan Payment at previous Payment at Decrease Amount Rate (5.75%) New rate (5.50%) Per month £30,000 £143.75 £137.50 £6.25 £40,000 £191.67 £183.33 £8.34 £50,000 £239.58 £229.17 £10.41 £60,000 £287.50 £275.00 £12.50 £80,000 £383.33 £366.67 £16.66 £100,000 £479.17 £458.33 £20.84 Enquiries: Press Office: Esther O'Reilly-Cain/Susan Knight...............................01452 373670 E-mail ..............................cgpressoffice@cgpressoffice.demon.co.uk ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/10/20030710BIT00470/wkr0001.doc http://www.waymaker.net/bitonline/2003/07/10/20030710BIT00470/wkr0002.pdf