How Bank of England Base Rate Changes Affect Cheshire Building Society Mortgage Holders

Base rate remains unchanged - July 8th 2010

On July 8th 2010, the Bank of England's Monetary Policy Committee announced its decision to keep the base rate unchanged at 0.5%.

Standard Variable Rate (SVR)

The SVR remains at 2.5%. 

Our SVR is one of the lowest standard variable rates on the high street, offering great value to customers who are reverting off fixed, tracker and discount mortgages reserved on or before 14 June 2009.

Standard Mortgage Rate (SMR)

The SMR remains at 3.99%.

The SMR is currently up to 1% lower than the standard variable rates of a number of our major high street competitors. All fixed and tracker deals reserved from 15 June 2009 will revert to the Standard Mortgage Rate (SMR) at the natural expiry of their deal.