"The reduction in residential SVR will support our members who currently have an SVR-linked product, and other borrowers will benefit if their account matures onto our SVR at the end of their current deal."
Effective from 1st December 2020, the Society’s residential SVR in England, Scotland, Wales and Northern Ireland will be 3.96%, a reduction of 2.03% on the previous rate of 5.99%.
Stuart Miller, customer director at Newcastle Building Society, said: “As a member-owned organisation we’re committed to supporting our customers own their own home by understanding their needs and taking a human, flexible approach to lending.
“The reduction in residential SVR will support our members who currently have an SVR-linked product, and other borrowers will benefit if their account matures onto our SVR at the end of their current deal.”
