Half of mortgage lenders have not passed on the recent cut in the Bank of England base rate, according to new research.
A study by Moneyfacts.co.uk revealed that 50 per cent of institutions have not reduced their standard variable rate (SVR) at all since the fall in interest rates earlier this month.
It also found that 82 per cent of mortgage lenders have not passed on the full one per cent of the last three base rate falls.
Darren Cook, mortgage expert at the website, explained that SVRs have traditionally been of little relevance to the mortgage market, but with banks and building societies cutting other products they are set to become more important.
He said: "In real terms, most lenders' current SVRs are underpriced compared to the rest of the mortgage market, with some current products even having a revert rate that is lower than the initial rate."
With another base rate cut planned for next week, it could be that fewer mortgage lenders than last time pass on the reduction, Mr Cook added.
Yesterday, the Intermediary Mortgage Lenders Association claimed that figures on mortgage repossessions have been sensationalised.
Mortgage lenders not passing on rate cuts, figures show
Mortgage Quote Line
0845 108 0505
Mortgage lenders not passing on rate cuts, figures show
Fri, 31 Oct 2008
Recommended links
Mortgage comparison portalQuick mortgage quote
Mortgage online calculator
Maximum borrowing calculator
How much can I borrow?
Mortgage lenders directory
Find a mortgage broker
Compare mortgage deals
Switching mortgage providers
Mortgage payment protection insurance
House prices and mortgages
Mortgage debt help
Mortgage debt advice
Mortgage debt and repossession
Interest rates and mortgage repayments
Mortgage fees and costs guide
Mortgage indemnity insurance
Stamp duty bands
Stamp duty calculator
Variable rate mortgage guide
Tracker rate mortgage
Compare tracker rate mortgages
Fixed rate mortgages
Compare fixed rate mortgages
Best 2, 3, 5 year fixed rate mortgages
Offset mortgage guide
Mortgage surveys
Conveyancing guide
Base rate cut predicted
Mortgage lenders announce rate cut
Rate cuts predicted
Mortgage rate cut at Standard Life
Interest rate cut predicted
Mortgage payments down in face of interest rate cut
First direct mortgage rate cut after BoE decision
Rate cut is "early Christmas present"
Interest rate cuts coming soon
Increased mortgage activity after August interest rate cut
Mortgage holders should take advantage of rate cut, expert states
Interest rate cut helps mortgage borrowers
Mortgage lenders pass on rate cuts
Rate cut might not mean cheaper mortgages, expert states
Rate cut will not help first time buyers
Interest rate cut but mortgages not cheaper
Nationwide announces mortgage rate cuts
Rate cut will help first time buyers
Mortgage lenders not passing on base rate cut
Mortgage rate cut announced by Halifax
Intelligent Finance moves to mortgage rate cuts
Homeowners still tentative after interest rate cut
Calls made for interest rate cut
Buy to let mortgage rate cut for those in search for a remortgage
'Mortgage demand slump increases need for rate cut'
Tracker mortgages offer rate cut benefits, expert states
Fixed-rate mortgage rate cut at Yorkshire
Mortgage rate cuts and fee savings at Abbey
Two mortgage rate cuts on two-year mortgage at Yorkshire
Portman announces mortgage rate cuts
December rate cut 'more likely'
HSBC announces mortgage rate cuts
| mortgages news |
|---|
| Mortgage lending still low, figures reveal - Mon, 05 Jan 2009 |
| Mortgage lenders will follow Nationwide's lead, expert claims - Mon, 05 Jan 2009 |
| Nationwide to freeze tracker mortgages - Fri, 02 Jan 2009 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage