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Bank of England Base Rate increase

Following the Base Rate increase of 0.15%, we are adjusting our mortgage and savings rates for our members effective from February 1st. Our standard variable rate for mortgages will be increased by 0.15%. Our savings rates are being increased by different amounts, some higher than 0.15% and some lower, depending on the existing rate on the account.

Our intention has been to spread the benefit across as many of our savers as possible, whilst ensuring the cost is largely covered by the mortgage rate increase.  We have informed all affected borrowers individually and will also be informing our savers of the applicable rate changes by the end of the month.