Base rate change - Mortgages | NatWest

Bank of England Base Rate

What would it mean for you if your mortgage interest rate changed?

Your home or property may be repossessed if you do not keep up repayments on your mortgage

Bank of England Base Rate information

What is the Bank of England Base Rate?


The Bank of England Base Rate is announced by the Monetary Policy Committee every month. Mortgage Lenders use this interest rate to calculate the interest for some of their mortgage offerings. Should there be a change to the Bank of England Base Rate many mortgage lenders may review their mortgage rates.

How could it affect you?


The Bank of England Base Rate is taken in to account as a factor when deciding the Ulster Bank Base Rate. Therefore, if the Bank of England Base Rate changes, your monthly payment may be affected if you are on a Tracker or a Flexible Variable rate mortgage. If you are on a Fixed rate your monthly mortgage payment will not be affected by any change to the Bank of England Base Rate for the period of time your fixed rate mortgage is in place. 

Prepare yourself for a base rate change

Whether you are an existing Ulster Bank mortgage customer or have your mortgage elsewhere, if you currently have all or part of your mortgage on Standard Variable Rate or your existing deal is about to come to an end, you may be affected by a change to interest rates.

Relax. Fix your deal so you know exactly what you'll pay each month.

If you a have a fixed rate mortgage, then your monthly repayment is fixed for a period of time, so you'll know exactly how much you are paying (Product fees may apply). It's important to consider what's best for you and there may be alternative options available.


Do you have a Ulster Bank mortgage?

Find out about switching your deal

Move your mortgage to Ulster Bank


What could a change in your mortgage interest rate mean for you?

Interest rates may change at some point in the future. The change may be small and gradual, affecting everyone with a variable rate mortgage.


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