The Bank of England’s Base Rate increased by 0.50 percentage points on 2 February 2023 and by a further 0.25 percentage points on 23 March 2023, resulting in a combined increase of 0.75 percentage points.
We will now be implementing rate changes across both our variable rate savings products and variable rate mortgages to reflect these changes and subsequent market movement.
We will increase the interest paid on all our variable rate savings accounts. Variable savings rates will increase on a product-by-product basis. These increases will be effective from 24 April 2023.
Members with an existing fixed rate savings product will not have any changes applied.
Use the links below to view rates for main range accounts and closed issue accounts.
As we announced on the website on 6 April 2023, we will increase our Standard Variable Rate (SVR) by 0.50 percentage points to 7.94%, effective from 1 May 2023.
Base Rate Tracker mortgages will increase by 0.25 percentage points from 1 May 2023, in line with the March 2023 Bank of England Base Rate increase.
We will write to members impacted by this individually.
Borrowers currently on a fixed rate product will see no change in current repayments.
Mortgage Payment Difficulties
We’re here to help. If you have a mortgage with us and are concerned about keeping up with mortgage payments, please contact us as soon as you can.
You’re not alone; thousands of mortgage borrowers get help from their lender every year. Talking to us about this will not affect your credit score. We will support you based on your needs and what you can afford to pay.
You’ll find more about the support we may be able to offer www.suffolkbuildingsociety.co.uk/mortgage-payment-difficulties
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