Bank of England Base Rate Increase
The Bank of England announced on 16 December 2021, that it was increasing its Base Rate from 0.10% to 0.25%. The Bank of England Base Rate is one of many factors which impact the interest rates we set on both our mortgage and savings accounts.
We are currently considering how this rate change will impact our variable rate mortgage and savings account customers and we will release more information as soon as we can.
Customers with fixed rate mortgage or savings accounts will not see any change in their interest rates and will not be affected by this Base Rate change.
Customers with tracker mortgages which are directly linked to the Bank of England Base Rate may see the interest rates on their mortgage accounts increase by 0.15% with effect from 10th January 2022.