Published: 12 December 2022
Following the announcement from the Bank of England to increase the Base Rate by 0.75% to 3.00% on 3 November 2022, we have subsequently increased the interest rate on many of our variable rate savings accounts.
We will also be increasing our Standard Variable Rate (SVR) of interest on our mortgages.
When we consider our response to each Base Rate change made by the Bank of England, we always consider the potential impact on both mortgage and savings members.
On the 30 November 2022, we increased the interest paid on many of our variable rate savings accounts. To see our current interest rates simply click here.
The Society will increase its Standard Variable Rate by 0.30 percentage points to 6.28%, effective from 1 January 2023.
Mortgages which are linked to and track the Bank Base Rate increased by 0.75 percentage points on 1 December 2022.
Members on a fixed rate mortgage will see no change to their current repayments.
We will write to all mortgage members affected by the rate change to inform them of their new payment details.
Mortgage repayment difficulties
If you have a mortgage with us and are concerned about meeting your repayments please get in touch with us as soon as you can, either by calling 01325 741060 or emailing firstname.lastname@example.org
We’ll work with you to help find a solution and the earlier we know, the better we can help.
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