Mortgage Follow on Rate and tracker rate changes

On 03 August 2023 the Bank of England base rate increased from 5.00% to 5.25%.

• Jersey mortgages Follow on Rate will increase by 0.25% to 8.50% (3.25% above Bank of England base rate) with effect from 01 September.  Jersey tracker rate mortgages will also automatically increase on 01 September 2023
• Isle of Man mortgages Follow on Rate will increase by 0.25% to 8.50% (3.25% above Bank of England base rate) with effect from 03 September and Isle of Man tracker rate mortgages will also automatically increase on 03 September 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.