December 2023’s Mortgage Rate Increases
Today, we’re increasing the interest rates on some of our mortgage accounts.
We work hard to carefully balance the needs of all our Members in all we do, and raising our mortgage rate is never an easy decision to make. Since December 2021, the Bank of England base rate has risen by 5.00%. During this time, we’ve kept our residential rate increases to 2.39% (including this change).
You can find the details of our new residential mortgage interest rates below:
| Old Interest Rate | New Interest Rate | |
|---|---|---|
| Renovation | 5.79% | 6.04% |
| Moorings | 8.14% | 8.39% |
| Small Woodlands | 8.14% | 8.39% |
| Buy-to-let | 6.54% | 6.79% |
| Offsite build arrears | 6.04% | 6.29% |
| Offsite build advanced | 6.54% | 6.79% |
We’re also increasing the interest rate on some of our commercial mortgages. We’ve written to any Members affected by these changes.
We’re here to help
If you’re worried about making your mortgage payments, please contact us as soon as possible so that we can help you. If you need to talk to us, or have any questions about these changes, you can email us on [email protected] or contact the Mortgage team on 01535 650 770 (lines are open Monday to Friday between 9am and 5pm, except Tuesdays when we’re open 10am to 5pm). You can also see our help and support page for more information and helpful links.
Our Mission
We want to help to deliver a fair and sustainable future for all, building a greener society has never been more important or more urgent. We’ll continue to find ways to support individuals and communities to tackle the climate crises.
9 December 2024 
