Bank of England base rate decrease

The Bank of England cut the base rate of interest by 0.25% to a rate of 4.25% on 8 May 2025.

What this means for your clients

• Bank of England tracker mortgage rates will decrease automatically in line with their terms and conditions.
• All fixed rate mortgages remain unchanged.

From 1 July 2025

• Our variable mortgage rates, including products linked to variable rates (e.g. Discount products), will decrease for existing members by 0.25%.
• Our Standard Variable Rate will decrease to 7.74%.
• Our Buy to Let Variable Rate will decrease to 8.04%.

If your client’s mortgage is affected, we’ll write to them and confirm the change to their interest rate and their new monthly payment amount.