Bank of England base rate change
On Thursday 3 August 2023, the Bank of England announced a 0.25% increase in its base rate from 5.00% to 5.25%.
Mortgages
If you have an EAB variable rate (or ‘tracker rate’) mortgage linked to the base rate, your mortgage interest rate will increase by 0.25%, 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.
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