.25% rate cut, how fast will it trickle down :)

amnblog

Existing BOE tracker products expect benefit within days or weeks.

Other borrowers, and new borrowers, do not hold your breath.

lee111s

Santander confirm they will be reducing the SVR by .25%

hufc2002

This is what The Mortgage Works have to say:


Today, Thursday 4 August the Bank of England decreased the base rate from 0.50% to 0.25%.
We’ll confirm any changes to our variable rate mortgages in due course.

gadgets.loco

This is what's on Halifax's website (using their calculator, there is a possibility my payment might drop by £26/mo, I have just checked and I am on SVR which is 3.99%):

Bank of England rate change announcement
Following the recent Monetary Policy Committee meeting, the Bank of England has announced a change to the Bank Rate from 0.50% to 0.25%.
If your mortgage is affected by the rate change, we’ll give notice and write to you to let you know your new monthly payment ahead of it being taken.
Use our Bank of England Base Rate Calculator to get an idea of how much a monthly mortgage payment might change by, following a Bank of England Base Rate change. Find out more about the Bank of England base rate and your mortgage.

luckwudaveit

Pleased to see that NRAM have had a change of heart and are now reducing their SVR by 0.25%. Time to make a greater overpayment.