Covid-19 Interest Rate Information
Following the announcement on Wednesday 11th March and Thursday 19th March by the Bank of England to reduce the Base Rate by 0.5% & 0.15% respectively, some Elderbridge customers will see a change to their monthly payments. Customers who are on our Standard Variable Rate or Bank Base Rate referenced loans will have the changes made with effect from 10th April 2020. Customers affected by this change will receive written confirmation of the new rate and your new monthly payment amounts in the coming weeks. Further information about what the current Base Rate is and how the Bank of England sets the Base Rate can be found on their website or by following this link www.bankofengland.co.uk/monetary-policy.