Bank of England base rate information

This page gives you the latest updates on any changes to the Bank of England base rate and how it affects your clients.

As you know the Bank of England (BOE) base rate was reduced by 0.50% to 0.25% on 11 March. Today it has been further reduced by 0.15% to 0.10% and we can confirm that we’ll be passing on the full rate cut to existing customers as follows:

• The Santander and Alliance & Leicester Standard Variable Rates will reduce to 4.49% from 4.99% in April, with a further reduction to 4.34% from 4.49% in May.
• All tracker mortgage products linked to base rate will automatically reduce from April. This includes Santander’s Follow-on Rate, which will reduce from 4.00% to 3.35%.