Top of main content

Bank of England base rate change calculator for tracker mortgages

Use our calculator to see how a Bank of England base rate change could affect your tracker rate mortgage payments.

What is the Bank of England base rate?

This is the official interest rate set by the Bank of England Monetary Policy Committee. The base rate is reviewed throughout the year and can fluctuate.

How a base rate change will affect your tracker mortgage

If you're currently on a tracker rate mortgage, a base rate change will affect your mortgage interest rate and payments. Use our calculator to get an idea of what a rate change could mean for your mortgage payments.

When your mortgage is affected by a base rate change we’ll write to you to confirm your new interest rate and monthly payment details.

Find out more about the base rate and your mortgage.

How to use our base rate change calculator

To use our calculator, you’ll need to enter your remaining balance, the number of years and months left on your mortgage, and your current total interest rate (including the base rate).

You’ll then need to enter a new total interest rate (including the base rate) to see how a different interest rate could change your monthly payments.

Your mortgage information can be found on your annual statement, or by logging onto online banking.

dpws-tools-calculator-creator

The information provided by this calculator is a guide and should be used for indicative purposes only.

All tracker rates are subject to a 0% floor. This floor means that, no matter how far the Bank of England base rate is reduced, the interest rate on a tracker mortgage will never be a negative figure.

Next steps

 

Find out more about switching to a different mortgage rate.

 

 See our jargon buster for help.

 

Find out more about the base rate and your mortgage.

It’s easy to answer your query online. Visit our Help page to find out how.