The Standard Variable Rate (SVR) is the interest rate we set as a mortgage lender after your initial mortgage deal ends. If you haven’t signed up for a new deal, you will be charged our SVR.
The SVR can go up or down, which means your mortgage payments might change each month, depending on the rate.
Our SVR is set by the Society and is not linked to the Bank of England Base Rate. We take into account several things when setting our SVR including the economy, business needs and changes made by the Bank of England.
Update for February 2025
Bank of England Base Rate - February 2025 Update
On 6th February 2025, the Bank of England lowered the Base Rate from 4.75% to 4.50%.
As a member-led society, we aim to keep our rates fair for both mortgage and savings members, so we’re reducing our SVR by 0.25%, to 8.14%.
This change will happen for current members on 1st April 2025.
If you have a variable rate mortgage, your payments will go down from 1st April 2025.
If you have a fixed rate mortgage, your payments won’t change.
We have already contacted those affected by this. If you're on the SVR, we have other mortgage options that might be better for you, and can give you free advice to find the correct product.
We understand that times are tough and encourage anyone struggling with mortgage payments to contact us. We’re part of the Government’s Mortgage Charter, and we offer different types of support.
If you’re worried about your payments or need financial advice, click here for organisations that can help.
When your current mortgage deal is coming to an end, we’ll write to you about switching your rate.
Your letter will tell you how you can switch.
If you've received your letter and it says you can switch your mortgage rate online, you can do this here - make sure you have your login details included in your letter to hand:
If your letter doesn't say you can switch online, or if you'd just prefer some guidance, our Mortgage Advisers can help you make the switch.
If you aren't coming to the end of your deal yet, you may be able to switch early, but you may have to pay an Early Repayment Charge to exit your current deal. Speak to one of our Advisers to discuss your individual circumstances.
If you are currently on our Standard Variable Rate, you can switch your rate, please request a call back using the button below.
We give our mortgage customers plenty of options if you want to move home.
It’s a good idea to speak with a Mortgage Adviser if you’re thinking about moving, as they’ll be able to identify the option that’s best for you.
If it’s in your best interest to keep your existing rate, you may be able to take your current mortgage product with you to your new home – also known as porting your mortgage.
Another option is to change your mortgage product when you take out the mortgage on your new house.
Bear in mind though:
Unless you’re currently on our Standard Variable Rate (SVR) or you’re nearing the end of your current deal, you’ll usually have to pay an Early Repayment Charge to change your product.
If you do decide to change your product, all our House Purchase mortgages are available to existing customers.
You can request a call back using the button below.
We offer the ability for our members to apply for additional borrowing, subject to affordability and eligibility criteria.
You can request a call back using the button below.
If you are looking to add or remove someone from the mortgage, you will need to speak to a mortgage adviser to discuss what this means for you and the person being added to the mortgage. This will include a review of your finances to check that the mortgage remains affordable.
You can request a call back using the button below.
If you want to pay off your mortgage you will need to request a redemption statement.
If you would like to receive your redemption statement either via email or post, please complete the Redemption Statement Request form or call our Mortgage Servicing team on 01633 844 370. The team will arrange a password with you before we send out your redemption statement via encrypted secure email or arrange for a copy to be sent via post.
Rate Switch Products
| Initial Interest Rate % | Overall Cost For Comparison | Maximum Loan To Value | Product Fee | Additional Features | |
| 5.25% | 7.6% | 80% | NIL | - | More Details |
| 5.44% | 7.9% | 95% | NIL | No ERCs | More Details |
| Initial Interest Rate % | Overall Cost For Comparison | Maximum Loan To Value | Product Fee | Additional Features | |
| 4.50% | 7.6% APRC | 75% | NIL | - | More Details |
| 5.00% | 7.8% APRC | 85% | NIL | - | More Details |
| 5.35% | 7.9% APRC | 95% | NIL | - | More Details |
| Initial Interest Rate % | Overall Cost For Comparison | Maximum Loan To Value | Product Fee | Additional Features | |
| 4.45% | 7.2% | 75% | NIL | - | More Details |
| 4.95% | 7.5% | 85% | NIL | - | More Details |
| 5.30% | 7.5% | 95% | NIL | - | More Details |
| Initial Interest Rate % | Overall Cost For Comparison | Maximum Loan To Value | Product Fee | Additional Features | |
| 4.30% | 6.4% | 75% | NIL | - | More Details |
| 4.65% | 6.9% | 85% | NIL | - | More Details |
| 5.00% | 7.2% | 95% | NIL | - | More Details |
Your home may be repossessed if you do not keep up repayments on your mortgage.
Landlord Rate Switch Rates
Buy-to-Let - 2 Year Discount
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 5.70% | 7.8% | 80% | - | - | More Details |
Buy-to-Let - 2 Year Fixed
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 4.40% | 7.6% | 75% | £1499 | - | More Details |
Buy-to-Let Limited Company - 2 Year Discount
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 5.80% | 7.8% | 80% | - | - | More Details |
Buy-to-Let Limited Company - 2 Year Fixed
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 4.60% | 7.7% | 75% | £1499 | - | More Details |
Holiday Let - 2 Year Discount
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 5.85% | 7.8% | 80% | - | - | More Details |
Holiday Let - 2 Year Fixed
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 5.00% | 7.8% | 75% | £1499 | - | More Details |
Holiday Let Limited Company - 2 Year Discount
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 6.05% | 7.9% | 80% | - | - | More Details |
Holiday Let Limited Company - 2 Year Fixed
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 5.25% | 7.8% | 75% | £1499 | - | More Details |
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 6.10% | 7.9% | 75% | - | - | More Details |
| Initial Interest Rate % | Overall Cost For Comparison (APRC) | Maximum Loan To Value | Product Fee | Additional Features | |
| 6.15% | 6.3% | 75% | - | Buy-to-Let and Holiday Let Only | More Details |
| 6.35% | 6.5% | 75% | - | - | More Details |
