Newcastle Building Society has announced a 0.25% reduction in its mortgage Standard Variable Rate (SVR), taking it to 6.50% from 1st July 2025.
The lender said the reduction reflects a shift in market conditions and underlying lending costs. The revised SVR is intended to ease pressure on affected borrowers, with the Society highlighting that its SVR was already among the most competitive prior to this change.
Stuart Miller, chief commercial officer at Newcastle Building Society, said: “Reducing our SVR is a part of our ongoing commitment to offer good value to members. As a member focussed organisation, we’re proud to offer one of the most competitive rates available and to continue supporting our customers with fair and responsible pricing.”
The Society said it will write to all affected customers in advance of the change taking effect next month.
