Lloyds TSB and C&G cut standard variable rate by full 0.5%
Following the announcement today by the Bank of England of a 0.5 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 7.0% to 6.5%.The decrease will come into effect on 1 November 2008.