Bank of England Base Rate decrease

The Bank of England (BOE) decreased the base rate from 4.50% to 4.25% on 6 May 2025.

Good news for tracker mortgages

We'll be reducing the rate on our tracker mortgages by 0.25% on 8 June 2025. We'll write to your client if they're affected.


Tracker mortgage payments won't change until March 2026, unless customers contact us

If your customers want their payments to be recalculated sooner, they can request a payment recalculation online.

 

Standard Variable Rate (SVR) mortgages

We're reducing our SVR from 7.49% to 7.24% on 15 June. We'll write to you if you're affected.

 

Fixed rate mortgages

There is no change to fixed rate mortgages.
 

General FAQs

The BoE base rate is the rate of interest that the Bank of England charges banks and building societies to borrow money. This affects the interest rates set by those banks and building societies for their customers. Any change to the base rate, may impact the interest rates on savings and mortgages.

The Bank of England’s Monetary Policy Committee (MPC) changes the base rate. It's part of the action they take to keep inflation low and stable.
The previous base rate change was 6 February 2025 when it decreased from 4.75% to 4.50%.
We'd review the impact of any further base rate changes along with the market and other economic factors at the time. It may impact our mortgage interest rates.

The Bank of England’s Monetary Policy Committee regularly reviews the base rate (normally monthly) to determine whether a change is needed.

Please choose from the following options

So we can direct you to the right part of our website, please select from the login options below:

NEW BUSINESS - ACCORD MSO

To create an illustration, submit a DIP, upload documents or to track an application for new customers:

ONLINE PRODUCT TRANSFERS

Switch existing Accord clients to a new deal - create an illustration, then apply and accept a product transfer online: