BASE RATE
The Mortgage Lender Residential and Buy to Let Base Rate
We may use our Residential Base Rate or our Buy to Let Base Rate to determine the variable interest rate if you have a tracker mortgage, or if your initial fixed rate has ended.
The product details provided on your European Standardised Information Sheet (ESIS) or illustration will tell you which reference rate applies and the margin that is added to it to calculate the variable interest rate.
We will write to you to notify you of any change to the variable interest rate at the same time as notifying you of the change to your monthly payment.
Below are details of our current and historic Residential and Buy to Let Base Rates:
Last Update
19th December 2025
3.75%
The Mortgage Lender Residential and Buy to Let Base Rate
Effective date | Residential Base Rate | BTL Base Rate |
|---|---|---|
20 December 2025 | 3.75% | 3.75% |
08 August 2025 | 4.00% | 4.00% |
09 May 2025 | 4.25% | 4.25% |
07 February 2025 | 4.50% | 4.50% |
07 November 2024 | 4.75% | 4.75% |
01 August 2024 | 5.00% | 5.00% |
04 August 2023 | 5.25% | 5.25% |
23 June 2023 | 5.00% | 5.00% |
12 May 2023 | 4.50% | 4.50% |
24 March 2023 | 4.25% | 4.25% |
03 February 2023 | 4.00% | 4.00% |
16 December 2022 | 3.50% | 3.50% |
04 November 2022 | 3.00% | 3.00% |
23 September 2022 | 2.25% | 2.25% |
05 August 2022 | 1.75% | 1.75% |
17 June 2022 | 1.25% | 1.25% |
06 May 2022 | 1.00% | 1.00% |
18 March 2022 | 0.75% | 0.75% |
04 February 2022 | 0.50% | 0.50% |
24 December 2021 | 0.25% | 0.25% |
12 November 2020 | 0.10% | 0.10% |
11 September 2020 | n/a | 0.10% |
Under what circumstances will our Base Rates change?
Our Residential and Buy to Let Base Rates are variable rates which are set by us. They are not directly linked to the Bank of England Base Rate, and we are not required to change them to track any increase or decrease in the Bank of England Base Rate, but they may be influenced by changes in the Bank of England Base Rate.
In line with the mortgage Terms and Conditions, we are only able to increase either of our Base Rates if it is fair and reasonable and for the following reasons:
A change in the costs of funds we use in our lending business to fund your mortgage (this may include for example where the interest rates on the money we use to fund your mortgage change);
Changes in any applicable UK or European legislation, including those about taxation;
Orders of a UK court, regulator or competent authority: or
Changes in any applicable law or regulation.
We can reduce either of our Base Rates for any reason.
The Bank of England website provides details of historic and current Bank Rates.
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