Bank of England base rate decrease

The Bank of England decreased the base rate by 0.25% to a rate of 5.00% on 1 August 2024.

Following the decrease in Bank of England base rate, we can confirm the following:

Savings rates – changes with effect from 24 September 2024:

• We’re making reductions to our savings rates. Find out more about the changes to our savings rates

Mortgage rates:

• Bank of England tracker mortgage rates have reduced automatically in accordance with their terms and conditions and all fixed rate mortgages remain unchanged.
• Our Standard Variable Rate and Buy to Let Variable Rate will remain at 8.24% and 8.54% respectively. Any product rate currently offering a discount to SVR will remain unchanged.

If your mortgage payment is changing, we’ll write to you to confirm the change to your interest rate and your new monthly payment amount.

If you’re not sure what deal you’re on, or when it ends, you can find this information on your annual mortgage statement.

If you’re worried about making your mortgage payments, we can help.