Nationwide, Santander, Halifax and Lloyds raise variable mortgage rates after Bank Rate rise
Standard variable rates go up by 0.25 percentage points from the start of December, and tracker rates rise in line with Bank Rate.
Homeowners on tracker and standard variable rate mortgages with Nationwide, Santander, Halifax and Lloyds Bank will pay more from next month. The Bank of England raised Bank Rate from 3.75% to 4% on Thursday.
Nationwide, Halifax and Lloyds Bank are putting their standard variable rates up from 1 December, and Santander from 3 December. In each case the rise is 0.25 percentage points, the same as the Bank's move. Nationwide points out that borrowers on a fixed deal are not affected.
The new rates
- Nationwide: Standard Mortgage Rate up from 6.49% to 6.74%. Base Mortgage Rate up from 5.75% to 6%. Tracker rates rise in line with Bank Rate.
- Santander: Standard Variable Rate up by 0.25 points to 6.75%, and its Follow-on Rate up by 0.25 points to 7.25%. All products linked to Bank Rate rise by 0.25 points from 3 December.
- Halifax: Standard Variable Rate and Homeowner Variable Rate both up from 7.24% to 7.49%. Tracker rates change in line with Bank Rate.
- Lloyds Bank: Standard Variable Rate up from 5.75% to 6.00%, Homeowner Variable Rate from 7.24% to 7.49%, and Buy to let Variable Rate from 8.09% to 8.34%. Tracker rates change in line with Bank Rate.
Halifax and Lloyds say customers on a lender variable rate will be told their new monthly payment before it is due. Both banks have rate change calculators on their websites.
