On 23 March 2023 the Bank of England Bank Rate went up by 0.25% from 4% to 4.25%.

So, from 1 May 2023 we’re changing our lender variable rates, because of an increase to our cost of lending:

  • Bank of Scotland Home Loan Rate will go from 8.45% to 8.7%.

If your mortgage is on a lender variable rate, we’ll let you know your new monthly payment before it is due. But you can see how much your monthly mortgage payment could change and find out what happens next, by using our Rate Change Calculator.

Find out more about the Bank of England Bank Rate and your mortgage.