Following the Bank of England’s reduction in Bank Base Rate from 0.75% to 0.25% on the 11 March and from 0.25% to 0.10% on 19 March 2020, Hinckley & Rugby Building Society amended its Standard Variable Rate from 6.14% to 5.89%. Customers with eligible mortgage tracker and variable rate products have seen a reduction in their rate. This change took effect from 9 April 2020 and letters have been sent to all our members advising them of the revised interest rate for their mortgage and their revised repayments.
The Society has reviewing its mortgage products currently on sale and the revised range of products can be viewed on our website.
Letters outlining the Society’s new rates following the reductions in the Bank Base Rate to 0.25% announced on 11 March have been posted to all savers. The Society is assessing the impact of the further reduction to 0.10% made on 19 March and customers with accounts that track the Bank Base Rate will have seen a reduction in their rate with effect from 15 April. We will announce any further revisions to rates in due course.