Newcastle Building Society is set to reduce its mortgage Standard Variable Rate (SVR) by 0.19% to 6.75%, with effect from 1st April 2025.
The change affects residential, self-build and buy-to-let (BTL) customers with products linked to the lender’s SVR, on properties in England, Scotland, Wales and Northern Ireland.
The society said the reduction reflects a change in market conditions and lending costs.
Michael Conville, chief customer officer at Newcastle Building Society, said: “We’re pleased to reduce mortgage repayments for our Standard Variable Rate borrowers by cutting our residential SVR.
“As a customer-owned organisation, maintaining a competitive SVR is an important way we create value for our members and deliver on our commitments to our intermediary partners and their clients.”
