On 7 August 2025, the Bank of England reduced the Bank Base Rate from 4.25% to 4%.
While our variable rate accounts are not directly linked to the Bank Base Rate, this change affects us. We have reviewed the rates on our mortgage and savings accounts. Some savings rates will reduce by 0.25% from 1 September 2025.

Since August 2024, the Bank Base Rate has fallen by 1.25%, from 5.25% to 4%. Over this period, rates on our savings accounts have only reduced by between 1% and 1.15% on average. We know this is a difficult time for savers, with the cost of living still high and interest rates moving. As a mutual, we work hard to limit the impact of wider economic pressures. We aim to offer fair and competitive rates wherever possible. Our focus is to help you save with confidence, even in uncertain times.

All variable mortgage rates will reduce by 0.15% from 1 October 2025.

Eligible members affected by these changes will receive a personal notification this month.