If you want to find out how our SVR has changed in response to changes to the Bank of England Base Rate, we have put together a useful summary. If you can’t find what you need, please get in touch and we’ll be happy to help you.
The Bank of England reduced the base rate by 0.25 percentage points to 3.75% on Thursday 18 December 2025.
Our SVR will be reducing by 25bps – (effective 1 February 2026) – to 7.49%
Bank of England base rate: 3.75% (effective 18 December 2025)
Our SVR (effective 1 February 2026): 7.49%.
| Change to Bank of England Base Rate | Our SVR |
| 1 August 2024 -25bps to 5.00% | 1 September 2024 -25bps to 8.44% |
| 7 November 2024 -25bps to 4.75% | 1 January 2025 -15bps to 8.29% |
| 6 February 2025 -25bps to 4.50% | 1 March 2025 -15bps to 8.14% |
| 8 May 2025 -25bps to 4.25% | 1 June 2025 -25bps to 7.89% |
| 7 August 2025 -25bps to 4.00% | 1 November 2025 -15bps to 7.74% |
| 18 December 2025 -25bps to 3.75% | 1 February 2026 -25bps to 7.49% |
Existing customers
Base Rate tracker mortgages will reduce by 0.25 percentage points. Changes to monthly payments will come into effect from Thursday 1 January 2026.
Standard Variable Rate (SVR) will reduce by 0.25 percentage points to 7.49%. Changes to monthly payments will come into effect from Sunday 1 February 2026.
Discount rate mortgages will reduce by 0.25 percentage points. Changes to monthly payments will come into effect from Sunday 1 February 2026.
We’ll write to affected members directly.
If you have existing borrower clients facing financial difficulties click here to see how we can help.
