National Counties and The Family pass on 0.25% BoE cut


The Family Building Society and National Counties Building Society are passing on the recent 0.25 per cent cut in Bank of England base rate to their customers.

The Family Building Society’s managed mortgage rate will be reduced by 0.25 per cent on 25 September.

National Counties’ standard variable rate will also be cut by 0.25 per cent on the same date.

Tracker mortgages linked to the Bank rate will change from the same date.

National Counties Building Society director of business development Keith Barber says: “Just like all mortgage and savings providers we have had to review our rates in light of the Bank of England’s actions.

“No savers will see their interest rate reduced by more than 0.25 per cent and we can pass on the cut in Bank Rate to our current and new borrowers to help them keep their outgoings low in what might be a difficult time post the Brexit vote.”