Mortgage SVR, FoR and tracker rate changes

On 11 May 2023 the Bank of England base rate increased from 4.25% to 4.50%.

• Our Standard Variable Rate will increase by 0.25% to 8.74% and we will contact customers on this rate to give them thirty days notice in line with their mortgage terms and conditions
• Jersey mortgages Follow on Rate will increase by 0.25% to 7.75% (3.25% above Bank of England base rate) with effect from 01 June.  Jersey tracker rate mortgages will also automatically increase on 01 June 2023
• Isle of Man mortgages Follow on Rate will increase by 0.25% to 7.75% (3.25% above Bank of England base rate) with effect from 05 June and Isle of Man tracker rate mortgages will also automatically increase on 05 June 2023

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.