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Information about our interest rate changes

Written by Joanne Leek

21 Dec 2021

Tags

Bank of England, Interest rates, Mortgages, Rate change, Savings

4 min read

On 16 December 2021 the Bank of England Base Rate increased by 0.15% to 0.25%. Here you will find information about the changes we are making to our savings and mortgage interest rates.

If you have a question about the rate changes, or are not quite sure what this means for you, please get in touch with your local branch, email us at [email protected] or call us on 0330 123 0723.

Mortgages.

Our mortgage Standard Variable Rate (SVR) will increase by 0.15% to 5.39%, effective 1 February 2022.

Existing Base Rate tracker mortgage account holders will have the 0.15% increase applied from 1 January 2022, in line with their terms and conditions. We are writing to all existing tracker rate mortgage borrowers with the specific details of their new interest rate and monthly payment amount.

Mortgage borrowers with a fixed rate product will not see any changes to their interest rate or monthly payments.

Savings.

The majority of variable rate savings accounts will increase by 0.15% effective 4 January 2022.

Fixed rate savings accounts are unaffected and will not have any rate changes applied.

We’re here to help.

If you can’t find what you’re looking for, or would prefer to talk to us, we’re here! Simply get in touch with your [local branch], email us at [email protected] or call us on 0330 123 0723.

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