Bank of England Base Rate increase
The Bank of England’s Monetary Policy Committee have today announced a 0.25% increase to the base rate to 0.50%. As a result of this announcement we can now confirm the following:
All customers who have existing mortgages which track the Bank of England Base Rate will see their account interest rate change (subject to any product rate cap) in line with their terms and conditions. For most Base Rate Tracker products, rates will be increased no later than 14 days from today, Thursday 3 February 2022.
Our existing Base Rate Tracker products will be withdrawn at 10pm Monday 7 February 2022 and replaced from 9.30am Tuesday 8 February 2022 reflecting the Bank of England base rate increase.
