Bank of england base rate cuts
The Bank of England has reduced base rate by 0.50% to 0.25% on March 11th, with a further reduction to 0.10% on the 19th.
Here’s our breakdown of how lenders are reacting to these cuts, so you can see whether yours has reduced its Standard Variable Rate (SVR rate). We’ will be keeping a close eye on recent developments and will update this page as of any changes. We’ve also shown how they reacted to the previous base rate increase in August 2018.
Do not forget that if currently, you are paying your lender’s SVR rate, the chances are you can substantially reduce your monthly mortgage costs by switching to a cheaper deal. Look at`your rate and check our best guides to see if you can find a better mortgage. Our expert mortgage advisers are on hand if you want to talk through the options available to you.
| Lender | August 2018 Change | Current SVR | 11 March Change | New SVR | 19 March change | Newest SVR |
| Accord | No change | 4.99 | ||||
| Aldermore | 0.25 | 5.23 | ||||
| Bank of Ireland | 0.25 | 4.74 | -0.50 | 4.24 | ||
| Barclays | 0.25 | 5.24 | -0.50 | 4.74 | ||
| Bath BS | 0.15 | 5.44 | ||||
| Beverley | 0.24 | 4.99 | ||||
| BM Solutions | 0.25 | 5.09 | -0.50 | 4.59 | ||
| Buckinghamshire | No change | 5.24 | ||||
| Cambridge | 0.25 | 5.24 | ||||
| Chelsea | No change | 4.99 | ||||
| Chorley BS | 0.25 | 5.74 | ||||
| Clydesdale / Yorkshire Bank | 0.25 | 5.20 | ||||
| Co-op | 0.25 | 4.99 | -0.50 | 4.49 | ||
| Coventry | 0.25 | 4.99 | ||||
| Cumberland | 0.25 | 4.74 | ||||
| Cynergy Bank | 0.25 | 4.75 | ||||
| Darlington | 0.25 | 5.95 | ||||
| Digital Mortgages (Atom Bank) | 0.25 | 4.00 | ||||
| Dudley | No change | 4.99 | ||||
| Earl Shilton | No change | 5.24 | ||||
| Ecology BS | No change | 4.65 | ||||
| Family BS (National Counties) | 0.25 | 5.04 | ||||
| First Direct | 0.25 | 4.19 | ||||
| Furness | 0.25 | 5.79 | ||||
| Halifax / Lloyds | 0.25 | 4.24 | -0.50 | 3.74 | ||
| Handelsbanken | No change | 4.25 | ||||
| Hanley Economic | 0.25 | 5.44 | ||||
| Harpenden | No change | 4.19 | ||||
| Hinckley & Rugby | 0.25 | 6.14 | ||||
| Hodge Lifetime | 0.25 | 4.70 | ||||
| HSBC | 0.25 | 4.19 | -0.50 | 3.69 | ||
| Ipswich | 0.25 | 5.74 | ||||
| Kent Reliance | 0.25 | 6.33 | ||||
| Leeds | No change | 5.69 | ||||
| Leek United | 0.25 | 5.69 | ||||
| Loughborough BS | 0.25 | 5.34 | ||||
| Manchester | 0.25 | 5.74 | ||||
| Mansfield | 0.16 | 5.75 | ||||
| Market Harborough | No change | 5.49 | ||||
| Marsden | 0.25 | 6.20 | ||||
| Melton Mowbray | No change | 4.99 | ||||
| Metro Bank | 0.25 | 4.25 | ||||
| Monmouthshire | 0.25 | 5.24 | ||||
| Nationwide | 0.25 | 4.24 | -0.50 | 3.74 | ||
| Nationwide (pre Apr ’09) | 0.25 | 2.75 | -0.50 | 2.25 | -0.15 | 2.10 |
| NatWest / RBS | 0.25 | 4.24 | -0.50 | 3.74 | ||
| Newbury | 0.25 | 4.45 | ||||
| Newcastle | No change | 5.99 | ||||
| Nottingham | 0.25 | 5.74 | ||||
| Paragon | 0.25 | 5.60 | ||||
| Penrith | 0.35 | 4.75 | ||||
| Platform | 0.25 | 4.99 | -0.50 | 4.49 | ||
| Principality | 0.15 | 5.05 | ||||
| Saffron BS | 0.25 | 5.64 | ||||
| Sainsbury’s Bank | 0.25 | 4.49 | ||||
| Santander | 0.25 | 4.99 | -0.50 | 4.49 | -0.15 | 4.34 |
| Santander Follow-on rate | 0.25 | 4.00 | -0.50 | 3.50 | -0.15 | 3.35 |
| Scottish BS | 0.15 | 5.29 | ||||
| Scottish Widows | 0.25 | 4.24 | -0.50 | 3.74 | ||
| Skipton | 0.25 | 4.99 | ||||
| Stafford Railway | 0.25 | 3.45 | ||||
| Teachers BS | 0.25 | 5.24 | ||||
| Tesco Bank | No change | 4.04 | ||||
| Tipton & Coseley | 0.25 | 5.24 | ||||
| TSB | 0.25 | 4.24 | -0.50 | 3.74 | ||
| Vernon BS | 0.25 | 5.20 | ||||
| Virgin Money | 0.20 | 4.99 | -0.50 | 4.49 | ||
| West Bromwich | 0.25 | 4.49 | -0.50 | 3.99 | ||
| Yorkshire B S | No change | 4.99 |
