Bank of England base rate change

The Bank of England base rate is currently 5.25%. The last time this changed was 3 August when it increased from 5.00% to 5.25%.


Due to the Bank of England base rate change on 3 August, all Santander and Alliance & Leicester tracker mortgage deals linked to the base rate increased by 0.25% at the beginning of September. This included Santander’s Follow-on Rate which increased to 8.50%. 

The Standard Variable Rate remained unchanged at 7.50%.

Savings, current accounts and business customers

We increased interest rates on savings accounts linked to the base rate on 15 August.

Our wider range of variable rate banking and savings products are not linked to base rate. If we make any changes, we’ll tell you about them in line with your terms and conditions.

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