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Changes to our tracker mortgages

06 May 2022

Following the decision by the Monetary Policy Committee on 5 May 2022 to increase the Bank of England Base Rate to 1.00%, we’ve increased our tracker mortgage rates.

Our updated tracker rates reflect the change to the Bank of England Base Rate with no change to our tracker differential.


What about customers already in the pipeline


Pre-Offer, including applications received today

Your customer's application will go through as normal and we’ll make an Offer that reflects the new Bank of England Base Rate.

Post-Offer (pre-completion) including Offers issued today

We’ll write to your customer to let them know about the updated Bank of England Base Rate and how it affects their monthly payment.

Completed up to and including today

These applicants will be treated as existing customers – take a look at the paragraph below for what that means.

What happens with existing customers

Customers whose mortgage rates are directly linked to the Bank of England Base Rate will be contacted to let them know their monthly payment will change on 1 July 2022, as per their mortgage terms and conditions.

You can find our current rates in our Mortgage Update

 

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