Following the decision made by the Bank of England in December 2021 to increase the base rate of interest by 0.15%, we have reviewed our savings and mortgage rates.
We are pleased to confirm that we have applied the full rate rise to the majority of our variable rate savings products, a decision which means that 97% of members with a variable rate saving product will benefit from a rate increase of 0.15%, effective from 1st February 2022.
Members with savings or mortgage accounts directly linked to the Bank of England base rate will have seen their rates change in accordance with their account terms and conditions.
Our Standard Variable Rate for mortgages remains unchanged at 3.96%.To find your updated account rate, you can view our current savings rates or call into your local branch for more information.
Update as of 3rd February 2022
Further to the Bank of England’s decision on 3rd February to increase the base rate of interest to 0.5% we are currently in the process of reviewing our variable savings and mortgage rates.
Members with savings or mortgage accounts that are directly linked to the Bank of England base rate will see their rates change in accordance with their account terms and conditions.
Article updated on 3 February 2022