Changes to our Standard and BTL Variable rates

24 March 2020

Following the reduction to the Bank of England Base Rate to 0.10% on Thursday 19 March, we have decreased our Standard Variable Rate and Buy to Let Variable Rate.

Our residential Standard Variable Rate will reduce to 4.34% and our Buy to Let Variable Rate will reduce to 4.54% from 2 April 2020. This reflects a combined 0.65% reduction, including the reduction to our Standard Variable Rate and Buy to Let Variable Rate we announced on 16 March.

Existing customers

We will soon contact existing customers who are on our Standard Variable Rate, Buy to Let Variable Rate, or have an element of their mortgage linked to our Standard Variable Rate such as a Personal Secured Loan, so that they are aware that their rate and monthly repayment will change to reflect the combined 0.65% reduction on 1 May 2020.

Eligible residential customers who have had their loan with us for a longer period will continue to benefit from our loyalty rate, which following the change will be 4.09%.

Additional information

All other products and features remain unchanged. The changes we’re making solely affect our Standard Variable Rate and our Buy to Let Variable Rate.

For full details of our current range, please view our Mortgage Update.