The Bank of England base rate is currently 4.75%. The last time this changed was on 7 November 2024 when it went down from 5.00% to 4.75%.
Mortgages
Due to the Bank of England base rate change on 7 November 2024, all our tracker mortgage deals linked to the base rate went down by 0.25% at the beginning of December 2024. This included Santander’s Follow-on Rate which went down to 8.00%.
The Standard Variable Rate also went down to 7.00%.
Savings, current accounts and business customers
We decreased interest rates on savings accounts linked to the base rate from 3 December.
If we make any changes to our wider range of variable rate banking and savings products, we’ll tell you about them in line with your terms and conditions.