Bank of England increases base rate (17/3/22)
4th April 2022
On Thursday 17 March 2022, the Bank of England announced a 0.25% increase in its base rate from 0.50% to 0.75%.
Following this announcement we’re increasing our Standard Variable Rate in line with the Bank of England rate change. This means that our Standard Variable Rate will increase from 5.44% to 5.69% from 1 May 2022.
Any mortgage members affected by this change will be contacted by letter. This letter will explain their new interest rate and monthly payments. Your clients will start paying their new monthly amount from May 2022, on their usual payment date. Back to news