Interest rates have decreased

On 7th November 2024 the Bank of England decreased the Base Rate of Interest by 0.25%. This means the Base Rate is now 4.75%.

As a result, the interest rate that applies to all of our Tracker mortgages and loans linked to the Bank of England Base Rate will decrease by 0.25% on 1st December 2024, in line with the Terms and Conditions of these accounts.

We will also decrease our Standard Variable Rate (SVR) to 9.04% on 1st December 2024.

If you are a customer who is affected by an interest rate change, we will write to you before any change to the interest rate or monthly payment is applied to your account. This letter will confirm both the date when the new interest rate will apply and the specific impact on your monthly payments. You do not need to take any action now – the letter we send you will let you know if you need to do anything.

The impact of the interest rate change on your monthly payments will depend on a number of factors, such as the type of mortgage you have, the current balance and remaining term. We cover some of these factors in the Q&A section below.

Please find answers to a number of customer questions below to help explain the potential impact of the interest rate change on your mortgage.

Please read this information before contacting us with a query.

Customer Questions & Answers


Will my interest rate and monthly payment change?

If you are a customer with a Tracker mortgage or loan linked to the Bank of England Base Rate, your interest rate will decrease by 0.25% on 1st December 2024, in line with the Terms and Conditions of your account.

The Standard Variable Rate for Whistletree customers will decrease by 0.25% on 1st December 2024, to 9.04%.

Find out more about our Rates, fees and charges.

What is my new interest rate and monthly payment?

If you are a customer who is affected by an interest rate change, we will write to you before any change to the interest rate or monthly payment is applied to your account. This letter will confirm both the date when the new interest rate will apply and the specific impact on your monthly payments. You do not need to take any action now – the letter we send you will let you know if you need to do anything.

The impact of the interest rate change on your monthly payments will depend on a number of factors, such as the type of mortgage you have, the current balance and remaining term.

When will my interest rate and monthly payment change?

If you are a customer who is affected by an interest rate change, we will write to you before any change to the interest rate or monthly payment is applied to your account. This letter will confirm both the date when the new interest rate will apply and the specific impact on your monthly payments.

Do I need to do anything now?

You do not need to take any action at this stage and should continue to make your monthly payments as usual.

If you are a customer who is affected by an interest rate change, we will write to you before any change to the interest rate or monthly payment is applied to your account. This letter will confirm both the date when the new interest rate will apply and the specific impact on your monthly payments. You do not need to take any action now – the letter we send you will let you know if you need to do anything.

What if I am struggling to afford my monthly payments?

If you are worried about making your mortgage payments, you should call us immediately. The sooner you speak to us, the more we can usually do to help. We will always consider your personal circumstances and be fair and considerate at all times.

Alternatively, you can visit our Personal Support section for details of how we can help and details of a number of independent organisations offering free support and advice who can help you keep your finances on track. They provide impartial Information and support if you are experiencing (or anticipate) financial problems.