The Bank of England base rate is currently 3.75%. The last time this changed was on 18 December when it went down from 4.00% to 3.75%.
Mortgages
All our mortgage products linked to the base rate went down by 0.25% from 3 January 2026. This includes the Follow-on Rate, which went down by 0.25% to 7.00%.
The Standard Variable Rate (SVR) went down by 0.25% to 6.50% from 3 January 2026.
Savings and business customers
We decreased interest rates on savings accounts linked to the base rate from 14 January 2026.