Bank of England Base Rate change
On Thursday 16 June 2022 the Bank of England announced an increase to the Base Rate from 1.00% to 1.25%.
Mortgages
We won’t be increasing the rate on our Standard Variable Rate (SVR) mortgages.
Base Rate Tracker mortgages will go up by 0.25% in line with the base rate increase effective 1 August 2022.
We’ll write to those affected at least five working days (excluding Bank Holidays) before a Direct Debit payment is taken.
We’re reviewing the rest of our mortgage rates and will provide further updates soon.
Savings
We’re increasing the rates on most of our variable savings accounts on 1 July 2022 to ensure we maintain our strong competitive position.
In the meantime, see what the new rate on your account will be.
If the rate on your account is due to change, we'll contact you by 30 June 2022.
Savings rate change FAQs
It depends on the type of account you have with us:
Fixed - Your account won’t be affected because the interest rate is set for an agreed length of time.
Variable – On 1 July 2022, most of our variable savings accounts will increase by up to 0.21%. You can find out if your account will be affected here.
To find out the interest rate you’re currently receiving on your account:
- Log into Online Services (if you're registered) and select your account. Your interest rate is displayed on the 'My actions' page.
- Look at our range of accounts. If your account is no longer available to new customers, you’ll find it listed under closed accounts.
- Contact us.
Whenever we list an interest rate, we always state whether it’s fixed or variable.
We continually review our rates and monitor market movement to make sure we offer great long-term value to our members. We'll update our website and will be in touch with you if there are any changes.
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on 0800 121 8899
- Mon-Fri 8am-7pm
- Saturday 9am-2pm
- Sunday & Bank holidays Closed
Yesterday, people waited on average
17 seconds for savings enquiries
17 seconds for mortgage enquiries

Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on
0800 121 8899
Saturday
Sunday
9am - 2pm
Closed
Closed
Yesterday, people waited on average
11 minutes and 45 seconds for savings enquiries
30 seconds for mortgage enquiries
