Confirming our plans for a potential base rate change

We’ve recently announced a number of potential changes to our mortgage rates if the Bank of England increases its base rate at 12pm on Thursday 2 November by 0.25%:

  • Most tracker rates will be increasing in-line with your clients’ mortgage offers (some rates will not increase as they’ve previously reached their minimum floor).
  • Variable rates linked to the Bank of England base rate will increase by 0.25%.
  • We will review our response should the base rate increase by anything other than 0.25%.

If the base rate increases on Thursday 2 November, any changes to mortgage rates for existing customers will apply from Friday 1 December.

We’ll write to your client to inform them of their new rate and mortgage payment amount in the following couple of weeks.

For new applications, all mortgage tracker KFI and offer documents will reflect the new Bank of England base rate from Friday 3 November.