Interest Rate Update – June 2023
Thu, 22 Jun 2023
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The Society continually monitors interest rates on its range of mortgage and savings products to ensure they are competitive and sustainable.

Following the 0.50% increase in the Bank of England base rate announced on 22nd June 2023 to 5.00%, members who either have a mortgage or savings product which is directly linked to the Bank of England base rate will see their rate rise to reflect the increase on 1st July 2023.

As previously announced members with a variable rate account will see their interest rate increase by 0.25% from 1st July 2023.

The Society’s Standard Variable Rate (SVR) will increase from 6.99% to 7.44% from 1st July 2023. The increase of 0.45% is the first increase since 1st December 2022. During this period, Bank Base Rate has increased on 5 occasions, totalling 1.25%.

For more information, please contact your local branch, or email Savings or Mortgages, respectively.