The Bank of England Base rate is the British Government's key interest rate for enacting monetary policy.
It has increased the base rate from 5.00% to 5.25%.
Tracker products are the only products that are linked to the Bank of England base rate. The rate on these accounts will change on the first day of the month following the announcement.
If you don’t hold a tracker product, your rate isn’t linked to any movement of the base rate.
Any movement on your rate will change in line with the market and economic conditions. If you hold a fixed product there will be no change to your rate during the term.
The base rate is decided by the Bank of England, taking many market factors into consideration. Kent Reliance has no early insight into rate movements.
No, your account terms and conditions remain the same.