Bank of England Base Rate Reduction 8th May 2025
Following the Bank of England’s decision to reduce Bank Base Rate by 0.25%, we are pleased to advise that the Society will be passing on this rate change in full by reducing our mortgage Standard Variable Rate (SVR) from 7.74% to 7.49%. The new SVR rate will take effect from 1st July 2025 and customers on a variable rate mortgage will be notified of their new repayment at least 14 days ahead of that date.
No decisions have been made at the present time regarding any changes to Savings rates. As soon as any changes have been finalised, our customers will be contacted individually about changes to their savings accounts.
Welcome to Penrith Building Society
We’ve been helping our members with their savings and mortgage needs since 1877. We are based in the beautiful town of Penrith in Cumbria and proudly offer our savings accounts, including online savings options, and mortgage products to customers throughout the UK.
There is something very special about being a mutually owned organisation, where all of our customers become members of our Society. For all of us here at Penrith, it is about putting our members at the heart of everything we do. Whether you are saving for something special, buying your first home or want to talk to us about making your money work harder for you, we are here to help, listening and supporting, as we have been since 1877.
As we continue to grow our Society, we are excited to welcome new members and help our existing members provide for the needs of their family, their home and their life.
If you would like to learn more about our Society, please visit the about us section of the website.
