Its Owner Occupier Monthly SVR will decrease by 0.25% to 4.54%, and its Residential Investment Monthly SVR will decrease by 0.25% to 5.29%.
Mansfield Building Society announced yesterday that it is reducing its SVR from 5.59% to 5.34% following the Bank of England's base rate cut.
Speaking after the Bank Rate announcement, Bank of England governor Mark Carney said that "banks have no excuse for not passing on this rate cut”.
Santander, Virgin Money, Barclays, Aldermore and Kent Reliance have all passed on the full 0.25% cut to mortgage customers.
