A Standard Variable Rate (SVR) is a variable rate of interest at which a lender’s standard mortgage is set.
SVR’s are influenced by changes in the level of the Bank of England’s base rate. However, we will decide when to increase or decrease this standard rate while the base rate remains unchanged. An SVR is a type of variable rate, this means your mortgage payments can go up or down according to movements in interest rates.
This table shows our standard variable rate compared with the Bank of England’s base rate for the last 5 years.
| Effective Date | Newbury Building Society | Bank of England* |
| Date | Rate of interest % | Rate of Interest % |
| 5 September 2023 | 7.00 | |
| 3 August 2023 | 5.25 | |
| 1 August 2023 | 6.75 | |
| 22 June 2023 | 5.00 | |
| 15 June 2023 | 6.40 | |
| 11 May 2023 | 4.50 | |
| 3 May 2023 | 6.25 | |
| 23 March 2023 | 4.25 | |
| 7 February 2023 | 6.00 | |
| 2 February 2023 | 4.00 | |
| 15 December 2022 | 3.50 | |
| 7 December 2022 | 5.60 | |
| 3 November 2022 | 3.00 | |
| 2 November 2022 | 4.85 | |
| 22 September 2022 | 2.25 | |
| 7 September 2022 | 4.45 | |
| 4 August 2022 | 1.75 | |
| 16 June 2022 | 1.25 | |
| 5 May 2022 | 1.00 | |
| 29 April 2022 | 4.10 | |
| 17 March 2022 | 0.75 | |
| 3 February 2022 | 0.50 | |
| 16 December 2021 | 0.25 | |
| 28 April 2020 | 3.95 | |
| 19 March 2020 | 0.10 | |
| 11 March 2020 | 0.25 | |
| 4 September 2018 | 4.45 | |
| 2 August 2018 | 0.75 |
* Source: www.bankofengland.co.uk
To see a table that shows our standard variable rate compared with the Bank of England's base rate since January 2000, click here.
