Newcastle Building Society is to reduce its mortgage Standard Variable Rate (SVR) by 0.19% to 6.31%, with effect from 1 February, 2026.
The change affects residential, self-build and BTL customers with products linked to the lender’s SVR, on properties in England, Wales and Scotland resulting in lower mortgage repayments for SVR borrowers. Customers in Gibraltar will also see a reduction by 0.19% to 6.75%.
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.
Ben Smith head of commercial and product development at Newcastle Building Society, said: “As a mutual, we remain committed to balancing the needs of our saving and lending members. This reduction to our SVR to 6.31% is a reflection of this commitment.”
