Bank of England base rate change
The Bank of England (BOE) increased the base rate from 3.75% to 4.00% on 5 November 2026.
Tracker mortgages
Tracker mortgage interest rates for existing customers will increase on 29 November 2026.
We'll write to you if you are affected.
Tracker mortgage payments won't change until March 2027, unless you contact us
If you want to contact us, please call us on 0345 848 0246*. Our lines can become very busy during rate change periods.
- If we don't hear from you, you'll be charged a higher rate of interest from 29 November 2026 but we won't increase your repayments.
- As you'd be paying back less interest than you're being charged, this will increase the amount you owe and could make a considerable difference to your mortgage payments from March 2027.
If you're worried about paying your mortgage now or in the future, find out how we can help.
Standard Variable Rate (SVR) mortgages
Our SVR is currently under review. We'll update our website if the interest rate changes and write to you if you're affected.
If you're worried about paying your mortgage now or in the future, find out how we can help.
If you're worried about paying your mortgage now or in the future, find out how we can help.
Fixed rate mortgages
There is no change to fixed rate mortgages.
Not sure which mortgage you have?
You can find out your mortgage type by checking your most recent annual statement or mortgage offer.
General FAQs
What is the Bank of England (BoE) base rate?
The BoE base rate is the rate of interest the Bank of England charges banks and building societies to borrow money. This affects the interest rates set by those banks and building societies for their customers. Any change to the base rate, may impact the interest rates on savings and mortgages.
Why does the base rate change?
The Bank of England’s Monetary Policy Committee (MPC) changes the base rate. It's part of the action they take to keep inflation low and stable.
What was the previous Bank of England rate change?
The previous base rate change was 18 December 2025 when it decreased from 4.00% to 3.75%.
What happens if the base rate changes again in the future?
We'd review the impact of any further base rate changes along with the market and other economic factors at the time. It may impact the interest rates we provide on our savings and mortgages.
When could the base rate change again in the future?
The Bank of England’s Monetary Policy Committee regularly reviews the base rate (normally monthly) to decide whether a change is needed.