Newcastle Building Society is to reduce its mortgage Standard Variable Rate (SVR) by 0.25% to 6.50%, with effect from July 1 2025.

The change affects residential, self-build and Buy To Let customers with products linked to the lender’s SVR, on properties in England, Scotland, Wales and Northern Ireland, resulting in lower mortgage repayments for SVR borrowers. 

The reduction reflects a change in market conditions and lending costs. Even before the reduction, the Society’s SVR was one of the most competitive on the market.  

Stuart Miller, chief commercial officer at Newcastle Building Society, says: “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.”