On 2nd August 2018, The Bank of England announced an increase to the Bank Base Rate from 0.50% to 0.75%. The Society uses the Bank Base Rate as one of many factors when setting interest rates. In response to this increase, we have taken the decision to;
• Increase our Standard Variable Rate for mortgages from 5.49% to 5.74% with effect from 1st November 2018
• Increase interest rates on a range of our savings accounts by 0.25%. The savings accounts affected are :
o Chorleian Share Account
o Our range of Affinity Accounts
• Increase interest rates on a range of our savings accounts by 0.50%. The savings accounts affected are :
o Chorleian Club and Charities Account
o Chorleian Business Account and Chorleian Business Deposit Account
Changes to interest rates on the savings accounts affected will take effect from 1st November 2018.
The Society will provide written notice to our mortgage customers if they are affected by the increase of our Standard Variable Rate.
For a summary of the interest rates for all savings accounts affected and frequently asked questions for both mortgage and savings customers, please visit our savings and mortgages pages on this website. If you would prefer to speak to us about the change and the options available, please visit your local branch, call our Mortgage team on 01257 235001, or call our Savings team on 01257 235003.