Leeds Building Society has held its standard variable rate (SVR) following the latest base rate hike from the Bank of England (BoE).
Earlier today the Old Lady of Threadneedle Street upped rates by 0.50% with the base rate now at the highest level seen since 2008.
The BoE has now increased rates seven times consecutively and as such lenders have been racing to reprice products.
However, the Leeds has confirmed that it will not be passing the latest increase on to borrowers.
A spokesperson for the Society said: “Following today’s announcement by the Bank of England’s Monetary Policy Committee we can confirm that there will be no change to our SVR.
“We will be reviewing the rates paid on our members savings accounts and further details will be announced in due course.”
