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.
