Base Rate Change Calculator
Read our guide...
Base Rate Calculator
Find out how your mortgage repayments will be affected by changes to the Bank of England Bank Rate.
Use our calculator to see what the increases will mean for your household budget. Then read more in our detailed guide to rising mortgage rates.
Your mortgage
• In your online banking statement
• By phoning your bank
• Or by taking a look at the last annual statement you have been sent.
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Your base rate results
As your rates are fixed, the payments or interest won't change in the short term.
However, check when your fixed term ends, and be prepared to switch to the best deals available. You can compare mortgage deals or get mortgage advice from our brokers.
Your base rate results
Good news! Overall, you are likely to be around £ better off over the next year as a result of the Bank of England's decision to its base rate by %.
Unfortunately, it looks like the Bank of England's decision to its base rate by % could leave you £ worse off over the next year.
The change in base rate doesn't actually mean anything for you. It's not going to leave you any better or worse off.
In detail...
Your mortgage costs will not over the following year as your mortgage is fixed
Your mortgage costs could by around £ per year, with new monthly payments of £.
Your savings
The interest you earn from your savings will not change over the following year as your interest rate is fixed
You could earn around £ in savings interest per year.You can earn up to £1000 a year in savings interest without paying tax (£500 if you're a higher rate taxpayer). If you earn more than that, please note that the excess will be subject to your normal income tax rate.
Your savings won't be affected by the change in the base rate.
So what next?
You may be able to increase the amount of interest you earn on your savings. Take a look at the Top Savings Accounts.
As your mortgage isn't fixed, it's likely your monthly payments will increase. But you could be free to move to a different rate or even switch lender to lock into a lower - or fixed rate - deal. You can compare mortgage deals or get mortgage advice from our brokers.
Your rates are fixed, so while you won't be affected by recent changes to the base rate, it doesn't mean you can't save money.