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Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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11 May 2023

Bank of England Increase Bank Rate May 2023

Following the latest Bank of England Monetary Policy Committee meeting on 11th of May, the bank rate was increased by 0.25% from 4.25% to 4.50%. 

The Society will now carefully reflect on what this means for our members, both savers and borrowers.

We appreciate these are challenging times for members, colleagues and our communities and would like to remind anyone who is struggling to meet their mortgage payments to speak to their lender as soon as possible.

Additionally, you can find a list of useful contacts and organisations on our website.

Please remember, if you hold a fixed rate mortgage your rate is fixed for the term of that product.

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Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.

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Monmouthshire Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number: 206052. FCA register address www.fca.org.uk/register/. We are members of the Financial Services Compensation Scheme. We are members of the Building Societies Association and Council of Mortgage Lenders. Details of our Customer Satisfaction and Complaints procedures are available and complaints that we cannot resolve may be referred to the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/). By accessing any part of this website, you shall be deemed to have accepted our Website Terms of Use.
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