Important information - changes to our Standard Variable Rate
As you will be aware, Bank Rate was reduced to 0.10% on Thursday 19 March 2020. Following a review of our Standard Variable Rate (SVR), the Society will reduce its SVR to 3.99% for new customers with effect from Thursday 9 April 2020.
Customers who are currently on a discounted variable rate or SVR
We will be writing to customers who are currently on a discounted variable rate or SVR advising them of their new mortgage rate and payment which is effective from Friday 1 May 2020.
What does this mean for pipeline business?
Any business that has been submitted on a discounted variable rate product will benefit from the reduction to SVR.
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