Cooperative Bank lowered selected trackers and standard variability by 25 basis points, while TSB lowered certain residential and landlord variability by the same interest rate.
After the Bank of England cut its base interest rate by 0.25% to 4.50% last Thursday.
Cooperative Bank rate changes include:
New business – mainstream
- Lifetime tracker dropped by 25bps
- Standard variable rate From 7.62% to 7.37%
- Standard variable rate From 7.62% to 7.37%
- Two-year tracker drops 25bps
- Regression rate dropped from 7.62% to 7.37%
Retain – Mainstream
- Lifetime tracker drops two years tracker drops 25bps
- SVR drops from 7.62% to 7.37%
- Two years of trackers dropped by 25bps
- Regression rate dropped from 7.62% to 7.37%
Meanwhile, TSB reduces the homeowner’s variability to 7.99%, while the BTL variability to 8.84%.
