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How we can support you with Coronavirus

Update 27 March 2020

The Bank of England announced a change to its Bank Rate on 11 March 2020, decreasing it from 0.75% to 0.25%. The Bank of England then made a second announcement on 19 March 2020 to reduce the Bank Rate further from 0.25% to 0.10%.

SAVINGS

Savings accounts that are directly linked to the Bank of England Bank Rate 

The rate of interest on our savings accounts which are directly linked to Bank of England Bank Rate, such as our Windfall Bond and Tracker Savings Bonds will decrease from 1 April 2020. These changes take place automatically as per account terms and conditions. We'll write to members who have these types of products in the next few weeks.

Market Tracker savings accounts

Our Market Tracker savings accounts are not linked to the Bank of England Rate. Instead they track the average of the top 20 easy access accounts available across the market. The interest payable on these accounts has been reviewed recently and we’ll publish the revised rate on our website no later than 15 days before 1 April and email customers as normal to let them know the new rate.

MORTGAGES

Tracker rate mortgages

The interest rate on these mortgages is directly linked to the Bank of England Bank Rate and will decrease from 25 April 2020. These changes take place automatically as per account terms and conditions. We'll write to members who have these mortgages shortly to let them know their revised payment amount.

Managed Mortgage Rates

We will be reducing some of our Managed Mortgage Rates by up to 0.65% from 25 April 2020. If your monthly mortgage payment will change as a result of this reduction, we will write to you in the next few weeks with your new monthly payment amount. 

Our Managed Mortgage Rates are listed below, including the current and new rate, where applicable.

Type Interest calculated Product Current rate New rate Rate effective
Owner occupier Monthly Managed Mortgage Rate 5.04% 4.39% 25 April 2020
Owner occupier Monthly Flexi Managed Mortgage Rate 5.14% 4.49% 25 April 2020
Owner occupier Monthly Islands' Managed Mortgage Rate 5.04% n/a n/a
Owner occupier Monthly Standard Variable Rate 5.04% 4.39% 25 April 2020 
Owner occupier Monthly Flexi Standard Variable Rate 5.14% 4.49% 25 April 2020 
Owner occupier Monthly Flexi Loyalty Rate 4.89% 4.24% 25 April 2020 
Owner occupier Monthly Managed Variable Rate (Repayment) 2.09% n/a n/a 
Owner occupier Monthly Managed Variable Rate (Interest-Only) 2.59% n/a n/a
Owner occupier Annual Standard Variable Rate 4.94% 4.29% 25 April 2020 
Owner occupier Annual Loyalty Rate 4.69% 4.04% 25 April 2020
Owner occupier Annual Loyalty Discount 0.75% 4.19% 3.54% 25 April 2020 
Buy to Let Monthly Managed Mortgage Rate 5.79% 5.14% 25 April 2020 
Buy to Let Monthly Standard Variable Rate 5.79% 5.14% 25 April 2020 
Buy to Let Annual Standard Variable Rate 5.69% 5.04% 25 April 2020 
Buy to Let Annual Variable Residential Investment Loyalty Rate 5.44% 4.79% 25 April 2020

 

Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
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