Lenders reduce SVR's as base rate cut | Chase De Vere Mortgage Management
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Lenders reduce SVR's as base rate cut

The Bank of England base rate has been reduced by 0.25% today and is now 5.5%.

Following today’s announcement, The Nationwide, Woolwich, Halifax and C&G all said they would reduce their standard variable rates (SVR) by 0.25%. It is unusual for lenders to make announcements so quickly.

Today’s decision is very welcome, but many feel more reductions will be needed in the coming months.