Lloyds TSB and C&G reduce mortgage rate by full 0.25%

7th February 2008 Print Email

Following the announcement today by the MPC of a 0.25 per cent decrease in the Bank of England Base Rate, Lloyds TSB and Cheltenham & Gloucester will be reducing their standard variable mortgage rate (SVMR) from 7.50% to 7.25%.

The decrease for existing borrowers will come into effect on 1st March 2008 and the change for new applications will take effect from Monday 11th February 2008.