The Cambridge announce changes to Standard Variable Rate and Buy to Let Variable Rate
27 March 2020 • Products & Services
As result of the two Bank Rate reduction announcements made by the Bank of England during March, to support the economy amid the current challenging environment, The Cambridge has reviewed its Standard Variable Rate and Buy to Let Variable Rates.
Rate changes will come into effect from 9th April 2020 for the following rates:
The Standard Variable Rate will be decreasing from 5.24% to 4.89%.
Buy to Let
The Buy to Let Variable Rate will be decreasing from 5.89% to 5.54%.
The Cambridge will be contacting customers affected by this change in early April to advise them of the new rate and their new monthly payment amount.
What The Cambridge are doing to support their most vulnerable customers
The Cambridge are supporting Mortgage customers by continuing to show flexibility where customers are facing financial difficulties. Their supportive team are keen to help understand their position in relation to Coronavirus, and will help them with the most suitable solution during this time.
Their Financial Support Team can be reached on 0345 601 3344.