Lenders yet to cut rates 02 March 2015 4:29PM John Kavanagh More than a dozen mortgage lenders have not changed their variable mortgage rates in response to last month's 25 basis point reduction in the cash rate.According to the comparison site Mozo, at the close of business on Friday Australian Financial, BCU, Big Sky, Credit Union SA, Economy Home Loans, Homestar, Illawarra Credit Union, Illawarra Home Loans, Maritime Mining Power Credit Union, Reduce Home Loans and State Custodians had not issued any notifications of rate cuts.A number of others chose not to pass on the full cash rate cut. Resi cut 20 bps off its Kickstart loan and only five bps off the rest of its product range.CUA cut the rate on its Rate Breaker Package loan by 26 bps but only cut the rate on its Fresh Start loan by 22 bps.HSBC cut the rate on its Discounted Variable loan by 20 bps and Queensland Credit Union cut the rate on its Ultimate loan by 20 bps.Mozo said the majority of lenders cut their variable rates by 25 bps. The big exception was Westpac, which cut by 28 bps.A number of other lenders took the opportunity to make bigger cuts to individual product rates. AMP cut the rate on its Essential Home Loan by 34 bps, Newcastle Permanent cut its Discounted Variable rate by 33 bps and eMoney cut the rate on its Prime loan by 27 bps.And other lenders took the opportunity to refine their product segmentation.Bank of Queensland introduced a special two-year introductory rate of 4.24 per cent on its Privileges Package Home Loan for loans worth more than A$1 million and with loan-to-valuation ratios below 80 per cent.Liberty Financial cut the variable rate for loans with LVRs above 80 per cent by 30 bps and for loans with LVRs below 80 per cent by 50 bps.IMB introduced a two-year intro discounted variable rate of 4.59 per cent on its Accelerator Home Loan for loans with LVRs below 90 per cent.