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Review of the Hanley Economic Building Society, Mortgages:

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Not considering mortgage customers

When interest rates went up, Hanley was quick to follow suit. As interest rates have declined, Hanley has made no changes to its standard variable rate. It has no regard for the wellbeing of its mortgage customers, and has no excuse, with many other lenders reducing rates. Reviewed on: 25th March 2025

Reply from Hanley Economic Building Society Thank you for your message on the topic of why the society hasn’t reduced its Standard Variable Rate (SVR) when there have been a number of Bank of England base rate decreases. Several factors are considered when we set our interest rates for both mortgage and savings customers. The Bank of England base rate is one factor we consider, and we offer products which are directly linked to the rate so that customers can be confident that any changes will be reflected in their own rate. Other products which are linked to our SVR are priced in a different way to ensure we can offer competitive rates as an alternative. I would like to reassure you that all of our product pricing is done to ensure that we offer the best value for money to our members. I can confirm from 01 May 2025, the Society will be reducing its mortgage Standard Variable Rate (SVR) by 0.25%, from 8.49% to 8.24%. Borrowers with a mortgage product linked to the SVR will see a corresponding reduction in their monthly payments from May 2025. This will be communicated to each borrower via letter or email. In addition, our variable retail savings rates will decrease by an average of 0.25%, also effective from 1 May 2025. Savers affected by this change will be notified by letter or email. The above changes are now published on our website to ensure our members are kept informed and can take any necessary action. We offer appointments to discuss both our mortgage and savings products, with one of our team members who will be happy to go through in detail. If you would like to further discuss this then please contact us on 01782 25500. Thank you again for your feedback on this matter and we look forward to speaking with you soon. https://www.thehanley.co.uk/news/nterest-rate-change-1-may-2025 Response date: 26th March 2025

Review of the Starling Bank, Current Account:

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The perfect banking service

Starling provides a service that just works. I have an app from a large bank as well, but it's far less user focused. Since I've been with Starling, I've felt much more in control. Reviewed on: 18th February 2021

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