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 increase of 0.25 percentage points on 11 May 2023, we will be changing our SVR.
Our SVR will increase by 0.25bps to 8.19% effective 1 June 2023.
Existing borrowers with a discount rate, or those paying our SVR, will see their interest rate change in line with any increase in SVR from 1 June 2023.
Existing borrowers with a tracker mortgage will see their interest rate change in light of the Bank Base rate increase, from 1 June 2023.
In the twelve successive rate rises from December 2021, the Base Rate has increased by a total of +440bps.
In the same period, we have increased our SVR by +295bps (including this change effective 1 June 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.
Get in touch.
We’re here to help, so if you’d like to speak to us please give us a call on 0330 123 1073