Personal Customers
On Thursday 2 August 2018 the Bank of England base rate increased from 0.50% to 0.75%.
Following this decision Santander will make the following changes:
Mortgages
Santander's Standard Variable Rate and the Alliance & Leicester Standard Variable Rate will increase by 0.25% to 4.99% from the beginning of September.
All tracker mortgage products linked to the base rate will increase by 0.25%. As a result Santander's Follow-on Rate will increase by 0.25% to 4.00% from 3 September.
If your mortgage is affected we'll write to you to confirm the change to your interest rate and how much your new monthly payments will be. You’ll receive this letter at least 5 days before your monthly payments change.
Savings
All savings rates linked to the base rate will increase by 0.25% from the end of August, as shown in the table below.
| Tracker Accounts | Current rate | New rate from 30 August | ||
|---|---|---|---|---|
| Good for Life ISA | £1+ | 0.50% | £1+ | 0.75% |
| Rate for Life | £1+ | 0.10% | £1+ | 0.10% |
£1,000+ | 0.75% | £1,000+ | 1.00% | |
In addition, we will be making a number of increases to variable savings accounts, as shown in the table below.
| Savings Accounts | Current Rate | New rate from 3 September | ||
|---|---|---|---|---|
| 1|2|3 eSaver (Issue 15) | £1+ | 0.25% | £1+ | 0.50% |
| eSaver (Issue 15) | £1+ | 0.15% | £1+ | 0.40% |
| Everyday Saver | £1+ | 0.25% | £1+ | 0.35% |
| Flexible Saver for Kids | £1+ | 0.50% | £1+ | 0.75% |
| Treasurers Instant Saver | £1+ | 0.50% | £1+ | 0.60% |
| Charity Investment Account | £1+ | 0.50% | £1+ | 0.60% |
| ISAs | Current Rate | New rate from 3 September | ||
|---|---|---|---|---|
| 1|2|3 Help to Buy ISA (Issue 3) | £1+ | 2.00% | £1+ | 2.25% |
| Help to Buy ISA (Issue 3) | £1+ | 1.50% | £1+ | 1.75% |
| 1|2|3 Help to Buy ISA (Issue 2) | £1+ | 2.50% | £1+ | 2.75% |
| Help to Buy ISA (Issue 2) | £1+ | 2.00% | £1+ | 2.25% |
| Help to Buy ISA (Issue 1) | £1+ | 4.00% | £1+ | 4.25% |
| 1|2|3 Junior ISA | £1+ | 3.00% | £1+ | 3.25% |
| Junior ISA | £1+ | 2.50% | £1+ | 2.75% |
| ISA Saver | £1+ | 0.25% | £1+ | 0.35% |
£10,000+ | 0.50% | £10,000+ | 0.60% | |
| Inheritance ISA | £1+ | 0.25% | £1+ | 0.35% |
£10,000+ | 0.50% | £10,000+ | 0.60% | |
| Easy ISA | £1+ | 0.10% | £1+ | 0.20% |
£40,000+ | 0.50% | £40,000+ | 0.60% | |
| Cash ISA (ex TOISA) | £10+ | 0.10% | £10+ | 0.20% |
£9,000+ | 0.60% | £9,000+ | 0.60% | |
Business Customers
On Thursday 2 August 2018 the Bank of England base rate increased from 0.50% to 0.75%.
All loans and overdrafts to UK businesses linked to the base rate will move in line with the change and in accordance with the terms of the deal.
In addition, we will be making a number of increases to variable savings accounts, as shown in the table below.
| Business Savings Account | Current Rate | New Rate from 3 September |
|---|---|---|
| Business Everyday Saver | 0.30% | 0.35% |
| Treasurer's Savings Account | 0.50% | 0.60% |
| Client Saver | 0.15% | 0.35% |