Sunday 4 December 2016

Charlie Weston: You'd have to be crackers to give up your trackers

Published 17/04/2010 | 05:00

BANKS don't do irony, but if they did, they would probably be the best in the world at it.

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Take Bank of Scotland (Ireland) and its retail offshoot Halifax. In 1999, the Scottish lender turned the mortgage market in this country upside down when it came in here with a mortgage offering that was a full 1pc cheaper than every other lender in the market.

The response was immediate from the existing lenders -- mortgage rates were slashed across the market as the cosy cartel was severely disturbed.

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