Preview Terrace Row of houses

Bank of England Base Rate

Find out what happens when the Bank of England announces a Base Rate change

Bank of England Base Rate

What happens when the Bank of England announces a Base Rate change?

Following any change in the Bank of England Base Rate (BoEBR) we review our Variable Rental Rates and decide what, if any, changes need to be made.

Variable Rental Rates

For customers on an existing Variable Rental Rate (discounted or not), the rental rate will be reviewed quarterly in March, June, September and December and any changes to the monthly payments will be advised.

Important: For all ‘On-Sale’ rental rates currently under offer during the product switch process, or loyalty rates offered to product expiry customers, any change to the Bank of England Base Rate taking place prior to your new deal completing, would be applied immediately to the ‘On-Sale’ rental rate under offer and monthly payments amended accordingly.

After your deal has completed or your new rental rate has been applied to your account, your rental rate is then reviewed quarterly in March, June, September and December and any changes to the monthly payments will be advised.

Fixed Rental Rates

For customers on a Fixed Rental Rate there will be no change to the monthly payments, until your Fixed Rental Rate agreement ends.

What is the current Bank of England Base Rate

Details of the current Bank of England Base Rate can be found at: https://www.bankofengland.co.uk

Frequently asked questions

We answer some frequently asked questions about home finance.