Yesterday’s 0.25% cut in the base rate, to 5%, was greeted by a speedy response from some of the UK’s leading mortgage lenders.Barclays, Lloyds TSB, HBOS and Nationwide all confirmed that they will reduce their standard variable rates from 1st May, for existing customers.Even First Direct, the HSBC subsidiary that recently closed its doors to [...]

More: A&L and Nationwide increase fixed-rates