Mortgage FoR and tracker rate changes

On 22 June 2023 the Bank of England base rate increased from 4.50% to 5.00%.

• Jersey mortgages Follow on Rate will increase by 0.50% to 8.25% (3.25% above Bank of England base rate) with effect from 03 July.  Jersey tracker rate mortgages will also automatically increase on 03 July 2023
• Isle of Man mortgages Follow on Rate will increase by 0.50% to 8.25% (3.25% above Bank of England base rate) with effect from 03 July and Isle of Man tracker rate mortgages will also automatically increase on 03 July 2023
• Our Standard Variable Rate remains unchanged at 8.74%

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.