Mortgage SVR, FoR and tracker rate changes

On 23 March 2023 the Bank of England base rate increased from 4.00% to 4.25%.

  • Our Standard Variable Rate will increase by 0.25% to 8.49% 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 7.50% (3.25% above Bank of England base rate) with effect from 03 April.  Jersey tracker rate mortgages will also automatically increase on 03 April 2023
  • Isle of Man mortgages Follow on Rate will increase by 0.25% to 7.50% (3.25% above Bank of England base rate) with effect from 03 April and Isle of Man tracker rate mortgages will also automatically increase on 03 April 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.