Newcastle Building Society is cutting its standard variable rate (SVR) by 19bps to 6.75%.
The rate change will take effect from 1st April 2025.
This will impact all residential, self-build and BTL customers with products linked to the building society’s SVR.
Newcastle Building Society is making this change to reflect market conditions and lending costs.
“We’re pleased to reduce mortgage repayments for our SVR borrowers by cutting our residential SVR,” said Michael Conville, chief customer officer at Newcastle Building Society.
“As a customer-owned organisation, maintaining a competitive SVR is an important way we create value for our members and deliver on our commitments to our intermediary partners and their clients.”
