Bank of England base rate reduction – 1 Aug 2024
On Thursday 1 August, the Bank of England base rate (the Bank Rate) fell from 5.25% to 5.00%.
As a result, the interest rate on all our mortgages that track the Bank Rate has been reduced by 0.25%.
Our Standard Variable Rate (SVR) has also been reduced by 0.25% to 9.29%.
Depending on your mortgage or loan, this change will have been effective from 1 September 2024 or from 1 October 2024. We’ve now written to you to confirm the details and you should have received our letter.
For more information about rate changes, including a set of FAQs, please see our Rate change information page.