CURRENT MORTGAGE
RATE ENDING?

Here's what it means for your mortgage

When the initial fixed or tracker rate on your mortgage ends, it automatically switches to a variable interest rate.  That means you pay interest in line with the Bank of England base rate or our Residential or Buy to Let base rate. 

What are my options?

It's important to understand how the end of your initial fixed or tracker rate affects you. So we'll write to you before that happens to tell you what it means for future payments.

The interest rate you pay will be in line with the base rate set by the Bank of England, or by our Residential or Buy to Let mortgage. So if the base rate that applies to your mortgage goes up, your payments will go up. If this base rate goes down, your payments go down.

If you're worried about how that might affect your ability to make mortgage payments, you might benefit from a Product Transfer. The letter about the end of your fixed or tracker rate tells you more about that option. You'll also get more information by speaking to your qualified mortgage adviser. It's important to do that as early as you can, so you have plenty of time to make the change if you want to.