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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.

 

Savings Rates

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.

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