Our plans if the Bank of England base rate increases by 0.25%

We've recently announced a number of potential changes to our Mortgage and Savings rates if the Bank of England raises its base rate on Thursday 2 November 2017 by 0.25%.

If this happens:

  • Our Standard Mortgage Rate (SMR) will be increasing to 3.99% (currently 3.74%).
  • 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 2.50% (currently 2.25%).
  • We will be increasing most Tracker rates in line with our members’ mortgage offers (some rates will not increase as they’ve previously reached their minimum floor).

We will review our response should the base rate increase by anything other than 0.25%.

Find out more: Mortgages FAQs

The Bank of England is due to announce the results of its base rate meeting at 12pm on Thursday 2 November. This is when it will announce whether there will be a rate change or not. The results are usually covered by all major news outlets and we will update our own website with information as quickly as we can.

Should the Bank of England announce a 0.25% base rate rise on 2 November, Nationwide will be making the following changes to our Mortgage rates:


  • Our Standard Mortgage Rate (SMR) will be increasing to 3.99%.
  • 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 2.50% (previously 2.25%).
  • Tracker rates will increase in line with our members’ mortgage offers (some rates will not increase as they’ve previously reached their minimum floor).

We will review our response should the base rate increase by anything other than 0.25%.

If the base rate increases on 2 November, any new mortgage rates will apply from 1 December.

We will write to you to inform you of your new rate and mortgage payment amount in the next couple of weeks.

If you want to know how your monthly payment is affected before this time, please use our handy rate change calculator.

If your monthly payments will be affected by a base rate change, you can use our handy budget calculator to work out whether you can afford to keep up with your potential new monthly payments.

If you feel you could face financial troubles if the base rate were to change, we're here to help you. To find out how we can help with any financial difficulties you may have, visit our money worries section.

If you can afford to, continuing to make your overpayments could be worthwhile. However, if you want to decrease the amount that you’re overpaying, or want to stop making overpayments completely, you can - depending on how you’re making your payment. Please note that payments received toward your mortgage will cover your contractual monthly payment before any excess is added to your overpayment reserve.


  • If you’re overpaying by Direct Debit, you can either contact us on 0800 30 20 11, visit us in branch, send us a secure message through the Internet Bank, or write to us with your instructions.
  • If you’re overpaying by Standing Order from a Nationwide account, you can change the amount in your Internet Bank or by contacting us.
  • If you’re overpaying by Standing Order from another bank or building society, you’ll need to contact them and ask them to change the amount.