Newcastle Building Society has announced it will reduce its standard variable rate (SVR) by 0.25% to 6.50%, from 1 July 2025.
The cut will apply to residential, self-build and BTL customers with products linked to the lender’s SVR, on properties in England, Scotland, Wales and Northern Ireland.
The society said the reduction reflected a change in market conditions and lending costs.
Gen H has confirmed it is reducing its mortgage rates by up to 50 bps (from close of business on 16 June).
The reductions apply to the lender’s entire product range, including New Build Boost.
The rate cuts include two-year 60% LTV rates down by 50 bps; two-year 80% LTV rates down by 30 bps; two-year 90% LTV rates down by 20 bps; two-year 95% LTV rates down by 15 bps; three-year rates across all LTVs dropping by 10–30 bps; five-year rates across all LTVs dropping by 5–20 bps; and New Build Boost rate reducing by 10 bps to 6.29%
