Following the announcement from the Bank of England on 15th December 2022 to increase the base rate by 50bps to 3.50%, Suffolk BS will be changing their SVR. Their SVR will increase by 50bps to 7.44% effective 1st February 2023.
In the nine successive rate rises from December 2021 the base rate has increased by a total of +340bps.
Since December 2021 we have increased our SVR by +220bps (including this change effective 1st February 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.
Visit our base rate and SVR tracker page.
Existing borrowers with a discount rate, or those paying our SVR, will see their interest rate change in line with any increase in SVR. Existing Base Rate tracker mortgage account holders will have the 50bps increase applied from 1st February 2023.
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.