Bank of England base rate change

Bank of England base rate change

On Thursday 5 May 2022 the Bank of England base rate increased from 0.75% to 1.00%.

This change follows earlier changes to the Bank of England base rate within the previous 12 months as set out below:

Date Changed Rate
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 0.25%, 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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