Bank of England changes base rate
On [DATE], the Bank of England announced a W% decrease in its base rate from 0.75% to X%.
Banks and building societies use the base rate to calculate interest rates for some of their mortgages and savings accounts.
We're currently working through what this means for our members and we'll update this website with more information as soon as it becomes available.
Members on BMR and most tracker-rate mortgages will decrease by w% in line with your contracts from [DATE] (however some accounts have already reached their minimum floor and won’t see a decrease until the base rate has passed above the rate set out in their offer).