Halifax reduces mortgage rate

Following the announcement today by the Monetary Policy Committee of a 0.25 per cent decrease in the Bank of England Base Rate, Halifax will be reducing its standard variable rate (SVR) from 7.75% to 7.50%.

As usual, the decrease for existing borrowers will come into effect at the same time as any change in savings rates on 1st January 2008 (full details of which will be announced later this month).