Changes to variable savings and mortgage interest rates
Last updated Friday 7 March
On 6 February 2025, the Bank of England decreased its base rate by 0.25%. Please see below how this change will impact your savings or mortgage with the Cumberland.
What is the Bank of England base rate?
This is the interest rate set by the Bank of England for lending to banks and building societies. Providers will use this, along with market position and cost of funding, to help determine the interest rates for some mortgage and savings products.
Mortgage FAQs
By how much are you decreasing your Standard Variable Rate?If I have a Fixed Rate mortgage product, will my monthly payment change?I have a mortgage which is linked to the Bank of England base rate, will my monthly payment change and when will my monthly payment change?I have a Residential Discounted Variable Rate/Standard Variable Rate mortgage, will this change apply to me and will my monthly payment change?I have a Buy To Let or Commercial Discounted Variable Rate/Standard Variable Rate mortgage, will this change apply to me and will my monthly payment change?