Bank of England base rate change

Personal banking customers
On Thursday 19 March 2020 the Bank of England base rate decreased from 0.25% to 0.10%.
 
Mortgages
The Santander and Alliance & Leicester Standard Variable Rates will decrease by 0.50% to 4.49% from the beginning of April, and further decrease by 0.15% to 4.34% from the beginning of May.
 
All tracker mortgage products linked to the base rate will decrease by a total of 0.65%. This includes Santander’s Follow-on Rate, which will decrease by a total of 0.65% to 3.35% from the beginning of April.
 
If your mortgage is affected, we’ll write to you to confirm the change to your interest rate and your new monthly payment. We’ll make sure you receive this letter at least five days before your monthly payment changes.
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Savings, current accounts & business customers
Following the decision by the Bank of England to further decrease its base rate by 0.15%, we’re reviewing all our variable rates. When we make any changes, we’ll tell you about them in line with your terms and conditions.
  
All interest rates on savings accounts linked to the base rate will move in line with the decrease from 1 April. 
 
All overdrafts on business accounts linked to the base rate will move in line with the decrease from 1 April.  From 6 April 2020, we’re making some changes to overdrafts.
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