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Base Rate Change November 2022

Written by Suffolk Building Society

14 Nov 2022


Bank of England, Interest rates

3 min read

Following the Bank of England’s decision to increase the Base Rate by 0.75 percentage points to 3.00% on 3rd November 2022, we are implementing rate changes across both our variable rate mortgages and variable rate savings products.


Suffolk Building Society will increase the interest paid on its variable rate savings accounts on a product-by-product basis. These changes will be announced on, and be effective from, 1st December 2022. Members with an existing fixed rate product will not have any changes applied.


The Society will increase its Standard Variable Rate (SVR) by 0.60 percentage points to 6.94%, effective from 1st December 2022.

Existing Base Rate tracker mortgage account holders will have the 0.75 percentage point increase applied from 1st December 2022.

Existing mortgage holders affected by the rate change will be written to individually.

Borrowers currently on a fixed rate product will see no change in current repayments.

Mortgage payment difficulties.

If you have a mortgage with us and are concerned about meeting your repayments, please get in touch with us as soon as you can, either by calling 01473 278510 or emailing [email protected]. You can also find details of what support we may be able to offer by visiting this page, Problems Paying Your Mortgage – Suffolk Building Society.

Get in touch.

If you can’t find what you’re looking for, or would prefer to talk to us, we’re here! Simply get in touch with your local branch, email us at [email protected] or call us on 0330 123 0723.

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