Following the latest Bank of England Monetary Policy Committee meeting on 15th December, the bank rate was increased by 0.50% from 3.00% to 3.50%.
The Society will now carefully reflect on what this means for our members, both savers and borrowers.
We appreciate these are challenging times for members, colleagues and our communities and would like to remind anyone who is struggling to meet their mortgage payments to speak to their lender as soon as possible.
Additionally, you can find a list of useful contacts and organisations on our website at www.monbs.com/financialsupport
Please remember, if you hold a fixed rate mortgage your rate is fixed for the term of that product.