Base Rate Tracker mortgages
What's going to happen to the rate on my Base Rate Tracker mortgage?
The rates on your Base Rate Tracker mortgage will be reduced in line with the terms and conditions. If the product has a ‘rate floor’, the rate won’t go below this level. You can find out if your mortgage has a rate floor, by checking your mortgage offer.
When will the rate change happen?
If your Base Rate Tracker was originally from Scarborough Building Society the new rate will take effect from 26 March 2020.
If you have a Skipton Building Society, ex-Holmesdale Building Society or ex-Chesham Building Society Base Rate Tracker mortgage then the new rate will take effect from 26 March 2020.
When will my monthly payments change?
Your monthly payment will change from the 1 April 2020.
Will I get confirmation of my new rate and payment?
Yes – we’ll send you a letter within the next 14 days from the 19 March will include all the details you need.
Base Rate Tracker savings accounts
What's going to happen to the rate on my Base Rate Tracker savings account?
The rates on your Base Rate Tracker savings accounts will be reduced in line with the terms and conditions.
When will my savings rate change?
Rates on tracker savings products will be reduced no later than 14 days after the announcement on Thursday 19 March 2020 from the Bank of England.
What will my new rate be?
We've included the new rates on our Base Rate Tracker savings accounts below along with the current rate for comparison.
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. All ISA and Child Trust Fund interest is paid tax-free, which means it’s exempt from income tax. We pay all non ISA savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.