Bank of England Base rate - useful information
On Thursday 19th March a further decrease in the Bank of England base rate was announced, moving it from 0.25% down to a record low of 0.1%. This follows the previous reduction announced on Wednesday 11th March.
As a result, our variable rates will be changed in-line with these decreases.
With effect from 1 April 2020:
•Lloyds Bank Homeowner Variable Rate currently at 4.24% will decrease down to 3.74%
•Lloyds Standard Variable Rate currently at 2.75% will decrease down to 2.25%
•Lloyds Buy to-let Variable Rate currently at 5.09% will decrease down to 4.59%
With effect from 1 May 2020:
•Lloyds Bank Homeowner Variable Rate will further decrease to 3.59%
•Lloyds Standard Variable Rate will further decrease to 2.1%
•Lloyds Buy to-let Variable Rate will further decrease to 4.44%
If your mortgage is affected by either or both of these changes, we’ll write to you and confirm your new monthly payment before it is due.
Use our Rate Change Calculator to get an idea of how much a monthly mortgage payment might change by.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.