Inside content area, use arrow keys or tab to access content

What is the Bank of England Bank Rate?

If you have a have a base rate loan or mortgage, the interest rate we apply will always move in line with the changes to the Bank of England Bank Rate.

If your interest rate is fixed, any change to the Bank Rate will not affect the interest rate during the fixed period. However the interest rate you move to after the fixed period ends may be variable and therefore could change in response to changes in the Bank Rate.

The interest rate on a Base Rate Loan will fluctuate in line with changes to the Bank of England Bank Rate – the rate of interest may increase or decrease over the committed term of the loan and this will affect the total repayment amount.

The current Bank of England Bank Rate is 0.50% (effective from 2 November 2017).

Use our “Rate change calculator” to work out how a change in Bank Rate could affect your loan or mortgage repayments.

Rate Change Calculator

 

If you believe your business may be heading into financial difficulties, or you are struggling to meet your financial commitments, please don’t ignore the problem – talk to your relationship manager.

Next steps

On the phone

0800 022 4378Call telephone number 0800 022 4378Call telephone number 0800 022 4378

Call us to talk to one of our relationship managers. We are available from 9am to 5pm Monday to Friday.

ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.