The Bank of England announced on Thursday 19 March 2020 that it was decreasing its Base Rate from 0.25% to 0.10%.
This reduction follows the previous Base Rate change from 0.75% to 0.25% that took place on Wednesday 11 March 2020.
The Bank of England Base Rate is one of many factors which impact the interest rates we set on both our mortgage and savings accounts.
We are currently considering how these rate changes will impact our variable rate mortgage and savings account customers.
Mortgages linked to Bank Base Rate (Tracker Mortgages) will see their rates decrease in line with their contractual terms. We will release more information soon.