Following the announcement from the Bank of England on 3rd November 2022 to increase the base rate by 0.75bps to 3.00% Suffolk Building Society will be changing their SVR.
Their SVR will increase by 0.60bps to 6.94% effective 1st December 2022.
In the eight successive rate rises from December 2021 the base rate has increased by a total of +2.90bps.
During the same period their SVR will have increased by +1.70bps (including this change effective 1st December 2022). If you want to find out how their SVR has changed in response to base rate movement they have put together a summary on their website.
For existing borrower clients with a discount rate deal, this will increase in line with the SVR change on 1st December 2022. For clients with a base rate tracker mortgage the base rate increase will be applied from 1st December 2022.
Get in touch.
They are here to help, so if you’d like to speak to them please give a call at 0330 123 1073.