Bank of England Bank Rate - useful information

On 2 February 2023 the Bank of England Bank Rate went up by 0.5% from 3.5% to 4%.

So, from 1 March 2023 we’re changing our lender variable rates, because of an increase to our cost of lending: 

  • Lloyds Bank Homeowner Variable Rate will go from 6.99% to 7.49%.
  • Lloyds Standard Variable Rate will go from 5.5% to 6%.
  • Lloyds Buy to let Variable Rate will go from 7.84% to 8.34%.

If your mortgage is on a lender variable rate, we’ll let you know your new monthly payment before it is due. But you can see how much your monthly mortgage payment could change and find out what happens next, by using our Rate Change Calculator.


Rate change calculator

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.