Bank of England Base Rate

On Thursday 4 August 2016 the Bank of England Base Rate reduced from 0.50% to 0.25%.

We can confirm the following change will be effective from 1 September 2016:

The Darlington Building Society Standard Variable Rate (SVR) will reduce by 0.25% from 5.95% to 5.70%.

What is a Standard variable rate?

This is our standard rate of interest which we will charge on most mortgages at some time during the mortgage term. It is variable, which means it can change.

What if I have a tracker mortgage?

Tracker mortgage products will, in line the Bank of England Base Rate, see a reduction of 0.25%.

Any other special terms and conditions you may have arranged with us previously will continue to apply. Some products may have minimum rates (known as ‘floors’). These floors will continue to apply regardless of the interest rate changes outlined above. You can find details of these special terms and conditions in the Key Facts Illustration or Offer of Mortgage that you will have received from us at the time they were agreed.

What if I have a Variable Rate mortgage?

If you have a Darlington Building Society Standard Variable Rate (SVR) mortgage you may be affected by changes to the Bank of England base rate. Darlington Building Society's SVR is a  managed rate and is not directly linked to the base rate. Changes to our SVR may not be in line with, or at the same time as, changes to the Bank of England base rate, as other factors can also influence the rates we set.

What if I have a Fixed Rate mortgage?

If you currently have a Darlington Building Society fixed rate mortgage, your rate does not change and your monthly payments will remain the same until the end of your mortgage deal. If you're not sure when your mortgage deal ends, you will find it on your latest Annual Mortgage Statement or on your original Key Facts Illustration
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Watch out for fraud

Remember to be vigilant when you receive communications from someone claiming to be us.  We will only ever write to you about your account, we would not email, text or phone you. Be wary about any communication from someone asking for personal details. You can find out more about fraud and cyber-crime by visiting the Action Fraud website www.actionfraud.police.uk