What the Bank of England’s base rate change means for you
12th July 2022
On Thursday 16 June, the Bank of England announced a 0.25% increase in base rate from 1.00% to 1.25%.
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)
Following the 0.25% increase in base rate announced in June 2022, our SVR will increase by 0.15% from 5.69% to 5.84%, with effect from 1 August 2022.
Following the base rate change on 5 May 2022, no change was made to our SVR.
Interest rates on all of our variable rate savings accounts will increase by 0.15%, with effect from 1 August 2022.
Interest rates on a number of our variable rate savings accounts were last increased on 13 June 2022 by up to 0.25%.
Please click here to see our savings rates effective from 1 August 2022. Back to news