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Bank of England Base Rate Change (16 June 2022)
On Thursday 16 June, the Bank of England announced a 0.25% increase in base rate from 1.00% to 1.25%.
The Society is currently reviewing what this means for its mortgage and savings rates and will update members in due course.
As a proud mutual building society, we’re committed to being fair to all our members. Over the last six months a number of changes have been made to the Bank of England’s base rate with our most recent changes being shown below.
Mortgage Standard Variable Rate (SVR)
Our SVR increased from 5.44% to 5.69% with effect from 1 May 2022, following the 0.25% increase in base rate announced on Thursday 17 March 2022.
Following the base rate change on the 5 May 2022, no change was made to our SVR.