The Bank of England Base Rate Announcement
02 August 2018
We are updating our website with new interest rate information for some of our business, mortgages and savings customers. This is following the change to Bank of England Base Rate announced on Thursday 2 August 2018.
As a result of The Bank of England decision to increase base rate by 0.25 per cent, The Co-operative Bank will increase rates on its Base Rate Tracker mortgage rates and its Standard Variable Rate (SVR) by 0.25 per cent.
This change for existing customers will come in to effect from 1 September 2018, and our new SVR will be 4.99 per cent for Co-operative Bank, Britannia and Platform branded mortgages and 5.75 per cent for Mortgage Agency Services branded mortgages. Base Rate Tracker mortgages will also change from 1 September 2018.
Existing Co-operative Bank, Britannia or Platform mortgage customers will be notified of the change ahead of their next monthly payment.
Any mortgage customers concerned by the increase to The Co-operative Bank’s Standard Variable Rate should contact us on: +44(0)8000 288 288. Lines are open 09:00 – 20:00 Monday to Friday and 09:00 – 13:00 on Saturdays.
Select savings accounts offered by the bank will have an increase in interest rate applied from 30 August 2018. The full details of which accounts will change will be published in due course on the Bank’s website.
We are committed to offering competitive rates for our mortgage and savings customers and we regularly review the rates, products and services we offer to our customers. Yesterday (Aug 1 2018) The Bank launched its Select Access Saver 9 (SAS 9) account with an improved rate of 1.10% gross; available to new and existing customers.