Bank of England base rate change
Bank of England base rate change
On Thursday 04 August 2022, the Bank of England announced a 0.50% increase in its base rate from 1.25% to 1.75%
This change follows earlier changes to the Bank of England base rate within the previous 12 months as set out below:
| Date Changed |
Rate |
| 04 August 22 | 1.75% |
| 16 June 22 | 1.25% |
| 05 May 22 | 1.00% |
| 17 Mar 22 | 0.75% |
| 03 Feb 22 | 0.50% |
| 16 Dec 21 | 0.25% |
Mortgages
If you have an EAB variable rate (or ‘tracker rate’) mortgage linked to the base rate, your mortgage interest rate will increase by 0.50%, starting in line with the terms and conditions for your mortgage.
If your EAB mortgage is currently on a fixed rate, it will not be affected by this change.
