The Bank of England base rate is currently 5.00%. The last time this changed was on 1 August 2024 when it went down from 5.25% to 5.00%.
Mortgages
Due to the Bank of England base rate change on 1 August 2024, all our tracker mortgage deals linked to the base rate went down by 0.25% at the beginning of September 2024. This included Santander’s Follow-on Rate which went down to 8.25%.
The Standard Variable Rate also went down to 7.25%.
Savings, current accounts and business customers
We decreased interest rates on savings accounts linked to the base rate from 15 August.
If we make any changes to our wider range of variable rate banking and savings products, we’ll tell you about them in line with your terms and conditions.