Halifax has announced it will pass the full 0.50% reduction on to existing tracker mortgage customers from 1st February 2009. Halifax will also reduce its SVR from 4.75% to 4.50% at the same time.
RBS is currently reviewing its SVR but all its customers with tracker mortgages that track the Bank of England Base rate will benefit in full from the reduction. Its 1.1 million SME customers with variable rate overdrafts and loans will also automatically benefit from this rate reduction. The vast majority of its SME business lending is linked to base rate so customers will see an immediate benefit.
