Nationwide will increase its tracker mortgage interest to reflect the base rate, which was upped to five per cent earlier today by the Bank of England.
The lender said that from the 1 August tracker mortgage interest rates would be increased to reflect the base rate change.
It said that it would write to clients to let them know about the changes and what their monthly payments would be from that point.
The firm said that it was still working on its standard mortgage rate and base mortgage rate but would update its website in due course.
Natwest
Natwest said that following the base rate increase an updated base rate of five per cent would be in-place for new tracker illustrations from Monday.
It said that new product guides would be available from then and mortgage illustrations produced prior to that would use the current rate.
Santander
Santander said that existing customer tracker deals would rise by around 0.5 per cent from the beginning of August, with payments changing from 26 August onwards.
The lender said that changes had also been applied to its follow-on rate, which will now stand at 8.25 per cent.
It said that Alliance and Leicester tracker products would go up by 0.5 per cent at the beginning of August, with payments changing from that point.
The lender has kept its SVR at 7.5 per cent.
Santander said that all tracker rates, including the follow-on rate, for new business and internal transfers would rise in-line with the base rate on 27 June.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
