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Interest rate news

Bank of England Bank Rate was decreased from 1.00% to 0.50% in March 2009

The current Birmingham Midshires standard variable rate is 4.84%.

For those customers who have a tracker mortgage that tracks the Bank of England Bank Rate, your interest rate will reduce in line with the Bank of England reduction. You will be notified in writing of your new mortgage payment in accordance with our normal procedures.

If you have a tracker product, your rate will change from the first of the following month after the Bank of England Bank Rate announcement. However, in order to provide you with adequate notice (and in line with direct debit requirements) monthly payments may not change for at least 2 months.

For telephone line opening times, please read the information in our contact section. Calls may be monitored and recorded for security and training purposes.

Our tracker rate mortgages are linked to Bank of England Bank Rate (also know as Bank of England repo rate). Details of this rate can be found on the Bank of England website or in the Financial Times or other leading newspapers.

© Birmingham Midshires

This site is intended for UK residents unless otherwise stated. Mortgage Loans will be made by Birmingham Midshires.
Birmingham Midshires is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh, EH1 1YZ.
To contact the FSA Consumer helpline, please ring 0300 500 5000 or visit www.moneyadviceservice.org.uk/.