On 7th November 2024 the Bank of England reduced the Bank Base Rate from 5.00% to 4.75%, a reduction of 0.25%.
We have therefore reviewed the rates payable on our mortgage and savings accounts and made the decision to reduce all variable savings rates and our mortgage Standard Variable Rate for residential mortgages by the same amount, 0.25%. The changes will take effect from 1st December 2024 for savers and 1st January 2025 for borrowers.
Impacted, eligible members will receive a personal notification of the change this month.
We have not reduced our Buy to Let Standard Variable Rate at this time and will continue to keep this under review.
