Woolwich will be cutting its Standard Variable Rate by 0.25 per cent following the Bank of England’s base rate decision today.
This will see its SVR reduce from 7.39 per cent to 7.14 per cent.
As well as the cut in SVR, all customers on Barclays Bank Base Rate trackers will see their rates cut by 0.25 per cent.
Existing customers will see the reduction in effect from May 1. New customers will see a cut in Barclays’ tracker rates from April 11 and SVR on May 1.