The Co-operative Bank has cut selected tracker and standard variable rates by 25 basis points, while TSB has reduced some residential and landlord variable rates by the same margin.
The moves follow the Bank of England cutting the base rate by 0.25% to 4.50% last Thursday.
Rate changes at the Co-operative Bank include:
New business — mainstream
- Lifetime trackers fall by 25bps
- Standard variable rates fall to 7.37% from 7.62%
- Standard variable rates fall to 7.37% from 7.62%
- Two-year tracker fall by 25bps
- Reversionary rate fall to 7.37% from 7.62%
Retention — mainstream
- Lifetime tracker fall by Two-year trackers fall by 25bps
- SVR decreased to 7.37% from 7.62%
- Two-year trackers fall by 25bps
- Reversionary rate fall to 7.37% from 7.62%
Meanwhile, TSB has cut homeowner variable rates to 7.99% and BTL variable rates to 8.84%.
