6th November 2017
On Thursday November 2nd, the decision was taken by the Monetary Policy Committee to increase Bank Base Rate by 0.25% to 0.50%, the first rate rise in over 10 years. Following the announcement, we are pleased to confirm that we will not be increasing our Standard Variable Rate (SVR) and any mortgages that are on a Variable Rate linked to our SVR will not see any increase to their rate or monthly payments. Any tracker mortgages that are directly linked to Bank Base Rate will see the 0.25% increase in line with their Terms and Conditions. Fixed Rate mortgages will remain unchanged.
We are also reviewing our savings accounts and will make announcements on our plans for these accounts at the earliest opportunity.
If anyone requires further information, please pop into branch, telephone 01325 366366 or use the contact form.