On 7 November 2024, the Bank of England reduced the base rate of interest by 0.25%. This means the base rate is now 4.75%.
Tracker mortgages and loans linked to the Bank of England base rate
Tracker rates are set at a fixed amount above the Bank of England base rate. This means that the interest rate goes up and down in line with changes to the Bank of England base rate. You can check if your loan is on a tracker rate by calling us or checking your Offer of Loan or credit agreement.
If your loan is on a rate which tracks the Bank of England base rate, your interest rate will reduce by 0.25%.
We’ll write to you shortly to let you know what your new interest rate will be, when it will take effect from and how much your new monthly payment will be.
If you’re concerned about falling behind on your payments or are already in arrears, it’s best to talk to us. We’re here to help. You can reach our team of experienced agents by calling 0330 159 7152. Our phone lines are open Monday to Friday 8:00am – 8:00pm, Saturday 9:00am – 1.00pm. Our agents can discuss your entire situation and provide support to help you.
Mortgages and loans linked to our Standard Variable Rate (SVR)
Our SVR is an interest rate set by us in accordance with the Terms & Conditions of your loan. It’s not linked to the Bank of England base rate. You can check if your loan is linked to our SVR by calling us or checking your Offer of Loan or credit agreement.
In November 2024, we agreed to reduce our Standard Variable Rate by 0.25% from 9.14% to 8.89%. If your loan is linked to our SVR, the rate you pay will reduce by 0.25%.
We’ll write to you shortly to let you know what your new interest rate will be, when it will take effect from and how much your new monthly payment will be.
If you’re concerned about falling behind on your payments or are already in arrears, it’s best to talk to us. We’re here to help. You can reach our team of experienced agents by calling 0330 159 7152. Our phone lines are open Monday to Friday 8:00am – 8:00pm, Saturday 9:00am – 1.00pm. Our agents can discuss your entire situation and provide support to help you.
