Research from the financial comparison site also showed that of those lenders that have passed on the cut, 20 (28%) have lowered their SVR by less than 0.25% - the cut made by the Monetary Policy Committee in April. According to Moneyfacts’ research, the majority of lenders who haven’t passed on the cut, or have passed on less than 0.25% are building societies, with 18 (38%) of the 51 societies that offer mortgages still not declaring their intentions regarding any rate cuts and another 18 (38%) announcing cuts of less than 0.25%.

Full story: yourmortgage.co.uk