The Hanley Building Society is pleased to announce a reduction in its Standard Variable Rate (SVR) by 0.25% from April 1st 2009 to 4.74%.

Dave Lownds, Head of Business Support at The Hanley commented

"The reduction in our already competitive SVR will benefit borrowers who are on products linked to our Standard Variable Rate. We continue to fund our mortgage business from the money we take from savers and like previous months we must balance decisions on our interest rates. "