This page gives you the latest updates on any changes to the Bank of England base rate and how it affects your clients.
On Thursday 5 November, the Bank of England base rate went up by 0.25% from 3.75% to 4.00%.
Following this decision, we can confirm the following changes for existing mortgage customers from 3 December 2026:
Tracker products will go up by 0.25%. This includes the Follow-on Rate, which will go up by 0.25% to 7.25%.
Standard Variable Rate will go up by 0.25% to 6.75%.
If a customer’s existing Santander mortgage is affected, they'll get a letter with their new interest rate and new monthly payment at least 7 days before their monthly payment changes.
Tracker rates will be updated to reflect the base rate change for new business and product transfer offers on Friday 20 November.