Mortgage Follow on Rate, Standard Variable Rate and tracker rate changes

On 06 February 2025 the Bank of England base rate reduced from 4.75% to 4.50%.

• The Follow on Rate will decrease by 0.25% to 7.75% (3.25% above Bank of England base rate) with effect from 03 March 2025 for existing mortgages on this rate 
• The tracker rates for existing mortgages will automatically decrease on 03 March 2025
• Our Standard Variable Rate will decrease from 8.00% to 7.75% with effect from 03 March 2025 for existing mortgages on this rate

If you have a fixed rate mortgage then there is no change to your mortgage rate if you are still in the initial period where your rate is fixed.