Nice to receive a letter from GMAC the other day informing me that my variable base aret has been reduced by 0.5% in line with that of last week BoE base rat cut.
Quick calculations revealed that that will save me about £60.00 a month – not to be sniffed at right now, I can assure you.
The most reassuring thing is to see that the big guys are at least trying to pass on some of the savings to the consumer, rather than just bolstering their profit margins.
Good work GMAC! Thank you!
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