On Thursday 19 March, the Bank of England decreased the base rate from 0.25% to 0.10%.
Here's how this affects our mortgage rates:
From 1 May 2020, variable rate mortgages indexed to the base rate will reduce by 0.15%, in line with existing terms and conditions. All other BTL variable rates, including TMW's managed rates, will remain unchanged.
New and pipeline applications
All Mortgage Illustration and Offer documents will reflect the new Bank of England base rate from 15 April 2020. For new customers completing on trackers from this date, the new base rate will be reflected upon completion.
We anticipate high call volumes in our contact centres, so for case updates, please login to TMW Online.