The Bank of England has moved to stimulate the economy and boost the fortunes of millions of hard-pressed homeowners with a third cut in interest rates in as many months.

Millions of borrowers on tracker mortgages, pegged to the base rate, will automatically benefit from the drop in rates, pocketing around £125 a month month on a typical £150,000 mortgage from January 1.

However, there are also millions of homeowners on variable-rate deals. Most borrowers on fixed or tracker deals revert onto a lender's standard variable rate (SVR) when their deal comes to an end and many are still waiting to find out whether they will benefit in full.

Here are the lenders that have announced what will happen to their SVRs.

Alliance & Leicester - Cut by 0.5 of a percentage point

The bank, owned by Santander, Spanish banking giant, has reduced its standard variable rate by half a point, from 5.84 per cent to 5.34 per cent, with effect from January 1.

Barclays - Cut by 1.15 percentage points

Woolwich, the mortgage brand of Barclays, did not make any cuts to its variable rates after the Bank of England's 1.5 percentage point cut in November.

This time around, the lender has tried to make amends by cutting by 1.15 percentage points. However, in highlighting the fact that it has "combined both cuts" in this reduction, borrowers will feel rightly short-changed. It's SVR will fall to 5.49 per cent, meaning it will still be one of the most expensive on the high street.

Bradford & Bingley - Cut by 0.75 of a percentage point

The Government owns the mortgage side of B&B - the savings business was sold to Santander. It cut rates by 0.75 percentage points to 5.59 per cent.

Bristol & West - Cut by 1 percentage point

The smaller lender, owned by the Bank of Ireland, is passing on the full cut in its SVR by 1 per cent, from 5.49 per cent to 4.49 per cent.

Halifax - Cut by 0.25 of a percentage point

Britain's biggest mortgage lender has disappointed borrowers with a measily quarter-point cut in its SVR, which will come into force on January 1. It will fall from 5 per cent to 4.75 per cent.

HSBC - Cut by 1 percentage point

Britain's biggest bank did not pass on the full cut last month but has committed to reducing its SVR by the full 1 per cent this time, lowering its SVR from 5.44 per cent to 4.44 per cent.

Lloyds TSB - Cut by 1 percentage point

The fifth biggest lender, which is in the process of taking over HBOS, promised to pass on the cut in interest rates the day before it was even announced. It will reduce its SVR from 5 per cent to 4 per cent from January 1.

Nationwide - Cut by 0.69 of a percentage point

The biggest building society in the country has failed to pass on the full cut, instead chopping its SVR by just over two-thirds of a point. It's SVR will fall to 4 per cent.

Northern Rock - Cut by 0.5 of a percentage point

The state-owned lender has defied the will of Gordon Brown and only cut rates by 0.5 percentage points. It's SVR will fall to 5.34 per cent on January 1.

Royal Bank of Scotland - Cut by 0.75 of a percentage point

The group, which includes NatWest brand, is cutting its SVR by 0.75 percentage points to 4.44 per cent.

Standard Life - Cut by 0.8 percentage points

The lender is cutting its variable rate to 5.79 per cent from December 31. It has one of the highest standard variable rates, in part because it did not pass on last month's 1.5 percentage point cut.