Newcastle Building Society is reducing its mortgage standard variable rate (SVR) by 0.25% to 6.50% from 1st July 2025.
The change affects residential, self-build and buy-to-let customers with products linked to the lender’s SVR, on properties in England, Scotland, Wales and Northern Ireland, resulting in lower mortgage repayments for SVR borrowers.
The Society says the reduction reflects a change in market conditions and lending costs.
Last week, Newcastle for Intermediaries announced a reduction in its residential stress rate for those borrowing over a term of up to five years, improving affordability options for borrowers.
Stuart Miller, chief commercial officer at Newcastle Building Society, said: “Reducing our SVR is a part of our ongoing commitment to offer good value to members. As a member focussed organisation, we’re proud to offer one of the most competitive rates available and to continue supporting our customers with fair and responsible pricing.”
