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On Thursday 3 August, the Bank of England announced a 0.25% increase in base rate from 5.00% to 5.25%.
SVR
Our SVR will increase by 0.25% from 7.99% to 8.24%, with effect from 1 October 2023. If your client is affected by this change, they'll be contacted by letter to explain their new interest rate and monthly payments. They'll start paying their new monthly amount on their usual payment date during October.
The cost of living in the UK continues to rise, resulting in many people starting to feel the financial pressure as household bills and everyday expenses continue to increase. If your client has a mortgage with us and they're worried that these increases are starting to impact them, we have a dedicated team on hand to offer them support. Please call us on 0808 168 8570.
Bank Base Rate Tracker Mortgages
Mortgages which are directly linked to and track the Bank Base Rate increased by 0.25% on 1 September 2023.
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Leek Building Society received the award of Best Building Society 2023 at the British Bank Awards, sponsored by Smart Money People, on 11 May 2023.
Leek Building Society is a trading name of Leek United Building Society, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority with firm reference number 100014. Our details can be found on the Financial Services Register at https://register.fca.org.uk/s/. Leek United Building Society’s address for service is 50 St. Edward Street, Leek, Staffordshire ST13 5DL.
