How does the Bank of England
base rate affect me?
The base rate is the interest rate
the Bank of England charges on
the money it lends to banks.
Some financial products, like mortgages,
are directly linked to the base rate.
If the base rate changes,
the interest rates that
apply to these products
can change too.
How base rate changes affect you
depends on the type of
financial product you have,
and how much the rate has gone up or down.
As well as mortgages,
some variable rate loans,
overdrafts and credit
cards may be affected.
