Following the announcement by the Bank of England to raise the base rate by 0.25%, we will be making the following changes to our mortgage rates:
Our Standard Mortgage Rate (SMR) will be increasing to 4.24% (previously 3.99%).
Our Base Mortgage Rate (BMR), for mortgages reserved:
- through Nationwide on or before 29 April 2009
- through Derbyshire on or before 30 May 2009, or
- through Cheshire on or before the 14 June 2009
...will be increasing to 2.75% (previously 2.50%)
Most of our tracker mortgage rates will increase in line with our members' mortgage offers (however some accounts have already reached their minimum floor and won't see an increase until the base rate has passed above the rate set out in their offer).