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Bank of England base rate announcement
On 2 November 2017, the Bank of England announced a 0.25% increase in the base rate. This means your current Nationwide mortgage rate and subsequent monthly payments may be affected, depending on your current product.
We'll write to you if your current mortgage is affected and due to change, letting you know your new rate and monthly payment.
If you have a fixed rate mortgage, your rate and monthly payments will remain the same until your deal period comes to an end. We’ll write to you to let you know when your deal period is coming to an end and what your new payment and interest rate will be.
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%).
We've increased the Nationwide Standard Mortgage Rate (SMR) from 3.74% to 3.99%.
Most of our members on a tracker rate mortgage will see an increase by 0.25% to 0.50% plus the set percentage you agreed to when you applied (some rates will not increase as they've previously reached their minimum floor).
Use our rate change calculator to find out how a change could affect your monthly mortgage repayments.
Rate change calculator
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