Savings

Variable rate savings accounts

We reduced our rates on most of our savings accounts on 10 December 2024. You can find your new interest rate here. We wrote to you if you were affected.

Fixed rate savings accounts

There is no change to our fixed rate savings accounts.

You can find more about our current range of savings accounts on our compare savings accounts page.

Mortgages

Good news for tracker mortgages

We reduced the rate on our tracker mortgages by 0.25% on 8 December 2024. We wrote to you if you were affected.

Tracker mortgage payments won't change until March 2025, unless you contact us

If you want your payments to be recalculated sooner, you can request a payment recalculation online.
If you want to contact us, please call us on  0345 1200 100*. Our lines can become very busy during rate change periods.
If you're worried about paying your mortgage now or in the future, find out how we can help.

 

Standard Variable Rate (SVR) mortgages

We reduced our SVR from 7.99% to 7.74% on 8 December 2024. We wrote to you if you were affected.

 

Fixed rate mortgages

There is no change to fixed rate mortgages.
 

Not sure which mortgage you have?

You can find out your mortgage type by checking your most recent annual statement or mortgage offer.

General FAQs

What is the Bank of England (BoE) base rate?

The BoE base rate is the rate of interest the Bank of England charges banks and building societies to borrow money. This affects the interest rates set by those banks and building societies for their customers. Any change to the base rate may impact the interest rates on savings and mortgages.

Why does the base rate change?

The Bank of England’s Monetary Policy Committee (MPC) changes the base rate. It's part of the action they take to keep inflation low and stable.

What was the previous Bank of England rate change?

The previous base rate change was 1 August 2024 when it decreased from 5.25% to 5.00%.

What happens if the base rate changes again in the future?

We'd review the impact of any further bank rate changes along with the market and other economic factors at the time. It may impact the interest rates we provide on our savings and mortgages.

When could the base rate change again in the future?

The Bank of England’s Monetary Policy Committee regularly reviews the base rate (normally monthly) to decide whether a change is needed.

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