Important update on variable rate mortgages

12/03/2020

On Wednesday 11 March, the Bank of England decreased the base rate from 0.75% to 0.25%.

Here is how this affects our mortgage rates.

Existing customers

From 1 April 2020, variable rate mortgages indexed to the base rate will reduce by 0.50%, in line with existing terms and conditions. All other BTL variable rates, including TMW's managed rates, will remain unchanged at the current time.

New and pipeline applications

All Mortgage Illustrations and Offer documents will reflect the new Bank of England base rate from Friday 13 March. For new customers completing on trackers from this date, the new base rate will be reflected upon completion.

Getting in touch

We anticipate high call volumes in our contact centres, so for case updates, please login to TMW Online.

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