Here are the latest updates from the Suffolk Building Society. These products are available via our direct to lender mortgage club which offers you payment on completion as well as specialist mortgage support and more. Click here for a full list of Ipswich products.
News about our SVR
Following the Bank of England’s Base Rate increases in February and March 2023, we will be changing our SVR.
On 2 February 2023 and 23 March 2023, the Bank of England Base Rate was increased by a total of 0.75 percentage points.
Our SVR will increase by 50bps to 7.94% effective 1 May 2023.
In the eleven successive rate rises from December 2021 the Base Rate has increased by a total of +415bps.
In the same period, we have increased our SVR by +270bps (including this change effective 1 May 2023). If you want to find out how our SVR has changed in response to Base Rate movement we have put together a summary on our website.
Existing borrowers with a discount rate, or those paying our SVR, will see their interest rate change in line with any increase in SVR. 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.