UK Interest Rates

Here we can see the record low interest rates that we have been experiencing. Cheap credit has fuelled to recent housing boom but credit is only cheap if the interest rates stay low which people are quick to forget about when jumping into a 25 year mortgage.

Long term average interest rates are around 5% and homeowners should expect at least one more interest rate rise before the end of 2007 to counter inflationary pressures.

Source: Bank of England

Read the latest Bank of England interest rate press release


Last updated: 11/03/2020
Next update:   07/05/2020

Typical variable rate mortgages are 2% above the base rate.

Month
Base Rate
3 Month LIBOR
LIBOR Margin
Typical Variable Mortgage Rate
Change
Bank of England Official Releases
MPC Minutes
Mar 200.25 %N/AN/A2.25 % 0.50N/AN/A
Jan 200.75 %N/AN/A2.75 % 0.0030/01/2020N/A
 
Nov 190.75 %N/AN/A2.75 % 0.0007/11/2019N/A
 
Sep 180.75 %N/AN/A2.75 % 0.0013/09/2018N/A
Aug 180.75 %N/AN/A2.75 % 0.25N/AN/A
Jun 180.50 %N/AN/A2.50 % 0.00N/AN/A
 
Nov 170.50 %N/AN/A2.50 % 0.25N/AN/A
 
Aug 160.25 %N/AN/A2.25 % 0.25N/AN/A
Mar 160.50 %N/AN/A2.50 % 0.0017/03/2016N/A
 
Oct 150.50 %N/AN/A2.50 % 0.0008/10/2015N/A
Apr 150.50 %N/AN/A2.50 % 0.0009/04/2015N/A
Mar 150.50 %N/AN/A2.50 % 0.0005/03/2015N/A
Feb 150.50 %N/AN/A2.50 % 0.0005/02/2015N/A
Jan 150.50 %N/AN/A2.50 % 0.0008/01/2015N/A
 
Dec 140.50 %N/AN/A2.50 % 0.0004/12/2014N/A
Nov 140.50 %N/AN/A2.50 % 0.0006/11/2014N/A
Oct 140.50 %N/AN/A2.50 % 0.0009/10/2014N/A
Sep 140.50 %N/AN/A2.50 % 0.0004/09/2014N/A
Aug 140.50 %N/AN/A2.50 % 0.0007/08/2014N/A
Jul 140.50 %N/AN/A2.50 % 0.0010/07/2014N/A
Jun 140.50 %N/AN/A2.50 % 0.0005/06/2014N/A
May 140.50 %N/AN/A2.50 % 0.0008/05/2014N/A
Apr 140.50 %N/AN/A2.50 % 0.0010/04/2014N/A
Mar 140.50 %N/AN/A2.50 % 0.0006/03/2014N/A
Feb 140.50 %N/AN/A2.50 % 0.0006/02/2014N/A
Jan 140.50 %N/AN/A2.50 % 0.0009/01/2014N/A
 
Dec 130.50 %N/AN/A2.50 % 0.0005/12/2013N/A
Nov 130.50 %N/AN/A2.50 % 0.0007/11/2013N/A
Oct 130.50 %N/AN/A2.50 % 0.0010/10/2013N/A
Sep 130.50 %N/AN/A2.50 % 0.0005/09/2013N/A
Aug 130.50 %N/AN/A2.50 % 0.0001/08/2013N/A
Jul 130.50 %N/AN/A2.50 % 0.0004/07/2013N/A
Jun 130.50 %N/AN/A2.50 % 0.0006/06/2013N/A
May 130.50 %N/AN/A2.50 % 0.0009/05/2013N/A
Apr 130.50 %N/AN/A2.50 % 0.0004/04/2013N/A
Mar 130.50 %N/AN/A2.50 % 0.0007/03/2013N/A
Feb 130.50 %N/AN/A2.50 % 0.0007/02/2013N/A
Jan 130.50 %N/AN/A2.50 % 0.0010/01/2013N/A
 
Dec 120.50 %N/AN/A2.50 % 0.0006/12/2012N/A
Nov 120.50 %N/AN/A2.50 % 0.0008/11/2012N/A
Oct 120.50 %N/AN/A2.50 % 0.0004/10/2012N/A
Sep 120.50 %N/AN/A2.50 % 0.0006/09/2012N/A
Aug 120.50 %N/AN/A2.50 % 0.0002/08/2012N/A
Jul 120.50 %N/AN/A2.50 % 0.0005/07/2012N/A
Jun 120.50 %N/AN/A2.50 % 0.0007/06/2012N/A
May 120.50 %N/AN/A2.50 % 0.0010/05/2012N/A
Apr 120.50 %N/AN/A2.50 % 0.0005/04/2012N/A
Mar 120.50 %N/AN/A2.50 % 0.0008/03/2012N/A
Feb 120.50 %N/AN/A2.50 % 0.0009/02/2012N/A
Jan 120.50 %N/AN/A2.50 % 0.0012/01/2012N/A
 
Dec 110.50 %N/AN/A2.50 % 0.0008/12/2011N/A
Nov 110.50 %N/AN/A2.50 % 0.0010/11/2011N/A
Oct 110.50 %N/AN/A2.50 % 0.0006/10/2011N/A
Sep 110.50 %N/AN/A2.50 % 0.0008/09/2011N/A
Aug 110.50 %N/AN/A2.50 % 0.0004/08/2011N/A
Jul 110.50 %N/AN/A2.50 % 0.0007/07/2011N/A
Jun 110.50 %N/AN/A2.50 % 0.0009/06/2011N/A
May 110.50 %N/AN/A2.50 % 0.0005/05/2011N/A
Apr 110.50 %N/AN/A2.50 % 0.0007/04/2011N/A
Mar 110.50 %N/AN/A2.50 % 0.0010/03/2011N/A
Feb 110.50 %N/AN/A2.50 % 0.0010/02/2011N/A
Jan 110.50 %N/AN/A2.50 % 0.0013/01/2011N/A
 
Dec 100.50 %N/AN/A2.50 % 0.0009/12/2010N/A
Nov 100.50 %N/AN/A2.50 % 0.0004/11/2010N/A
Oct 100.50 %N/AN/A2.50 % 0.0007/10/2010N/A
Sep 100.50 %N/AN/A2.50 % 0.0009/09/2010N/A
Aug 100.50 %N/AN/A2.50 % 0.0005/08/2010N/A
Jul 100.50 %N/AN/A2.50 % 0.0008/07/2010N/A
Jun 100.50 %N/AN/A2.50 % 0.0010/06/2010N/A
May 100.50 %N/AN/A2.50 % 0.0010/05/2010N/A
Apr 100.50 %N/AN/A2.50 % 0.0008/04/2010N/A
Mar 100.50 %N/AN/A2.50 % 0.0004/03/2010N/A
Feb 100.50 %N/AN/A2.50 % 0.0004/02/2010N/A
Jan 100.50 %N/AN/A2.50 % 0.0007/01/2010N/A
 
Dec 090.50 %N/AN/A2.50 % 0.0010/12/2009N/A
Nov 090.50 %N/AN/A2.50 % 0.0005/11/2009N/A
Oct 090.50 %N/AN/A2.50 % 0.0008/10/2009N/A
Sep 090.50 %N/AN/A2.50 % 0.0010/09/2009N/A
Aug 090.50 %N/AN/A2.50 % 0.0006/08/2009N/A
Jul 090.50 %N/AN/A2.50 % 0.0009/07/200922/07/2009 (PDF)
Jun 090.50 %N/AN/A2.50 % 0.0004/06/200917/06/2009 (PDF)
May 090.50 %N/AN/A2.50 % 0.0007/05/200920/05/2009 (PDF)
Apr 090.50 %N/AN/A2.50 % 0.0009/04/200922/04/2009 (PDF)
Mar 090.50 %1.83 %1.33 %2.50 % 0.5005/03/200918/03/2009 (PDF)
Feb 091.00 %2.09 %1.09 %3.00 % 0.5005/02/200918/02/2009 (PDF)
Jan 091.50 %2.32 %0.82 %3.50 % 0.5008/01/200921/01/2009 (PDF)
 
Dec 082.00 %3.20 %1.20 %4.00 % 1.0004/12/200817/12/2008 (PDF)
Nov 083.00 %4.45 %1.45 %5.00 % 1.5006/11/200819/11/2008 (PDF)
Oct 084.50 %6.13 %1.63 %6.50 % 0.5008/10/200822/10/2008 (PDF)
Sep 085.00 %5.91 %0.91 %7.00 % 0.0004/09/200817/09/2008 (PDF)
Aug 085.00 %5.77 %0.77 %7.00 % 0.0007/08/200820/08/2008 (PDF)
Jul 085.00 %5.83 %0.83 %7.00 % 0.0010/07/200823/07/2008 (PDF)
Jun 085.00 %5.93 %0.93 %7.00 % 0.0005/06/200818/06/2008 (PDF)
May 085.00 %5.83 %0.83 %7.00 % 0.0008/05/200821/05/2008 (PDF)
Apr 085.00 %5.92 %0.92 %7.00 % 0.2510/04/200823/04/2008 (PDF)
Mar 085.25 %5.88 %0.63 %7.25 % 0.0006/03/200819/03/2008 (PDF)
Feb 085.25 %5.64 %0.39 %7.25 % 0.2507/02/200820/02/2008 (PDF)
Jan 085.50 %5.64 %0.14 %7.50 % 0.0010/01/200823/01/2008 (PDF)
 
Dec 075.50 %6.39 %0.89 %7.50 % 0.2506/12/200719/12/2007 (PDF)
Nov 075.75 %6.41 %0.66 %7.75 % 0.0008/11/200721/11/2007 (PDF)
Oct 075.75 %6.27 %0.52 %7.75 % 0.0004/10/200717/10/2007 (PDF)
Sep 075.75 %6.65 %0.90 %7.75 % 0.0002/09/200719/09/2007 (PDF)
Aug 075.75 %6.41 %0.66 %7.75 % 0.0002/08/200715/08/2007 (PDF)
Jul 075.75 %6.03 %0.28 %7.75 % 0.2505/07/200718/07/2007 (PDF)
Jun 075.50 %5.88 %0.38 %7.50 % 0.0007/06/200720/06/2007 (PDF)
May 075.50 %5.77 %0.27 %7.50 % 0.2510/05/200723/05/2007 (PDF)
Apr 075.25 %5.65 %0.40 %7.25 % 0.0005/04/200718/04/2007 (PDF)
Mar 075.25 %5.55 %0.30 %7.25 % 0.0008/03/200721/03/2007 (PDF)
Feb 075.25 %5.57 %0.32 %7.25 % 0.0008/02/200721/02/2007 (PDF)
Jan 075.25 %5.49 %0.24 %7.25 % 0.2511/01/200724/01/2007 (PDF)
 
Dec 065.00 %5.29 %0.29 %7.00 % 0.0007/12/200620/12/2006 (PDF)
Nov 065.00 %5.23 %0.23 %7.00 % 0.2509/11/200622/11/2006 (PDF)
Oct 064.75 %5.13 %0.38 %6.75 % 0.0005/10/200618/10/2006 (PDF)
Sep 064.75 %5.03 %0.28 %6.75 % 0.0007/09/200620/09/2006 (PDF)
Aug 064.75 %4.94 %0.19 %6.75 % 0.2503/08/200616/08/2006 (PDF)
Jul 064.50 %4.73 %0.23 %6.50 % 0.0006/07/200619/07/2006 (PDF)
Jun 064.50 %4.73 %0.23 %6.50 % 0.0008/06/200621/06/2006 (PDF)
May 064.50 %4.70 %0.20 %6.50 % 0.0004/05/200617/05/2006 (PDF)
Apr 064.50 %4.63 %0.13 %6.50 % 0.0006/04/200619/04/2006 (PDF)
Mar 064.50 %4.59 %0.09 %6.50 % 0.0009/03/200622/04/2006 (PDF)
Feb 064.50 %4.58 %0.08 %6.50 % 0.0009/02/200622/02/2006 (PDF)
Jan 064.50 %4.60 %0.10 %6.50 % 0.0012/01/200625/01/2006 (PDF)
 
Dec 054.50 %4.64 %0.14 %6.50 % 0.0008/12/200521/01/2006 (PDF)
Nov 054.50 %4.62 %0.12 %6.50 % 0.0010/11/200523/11/2005 (PDF)
Oct 054.50 %4.59 %0.09 %6.50 % 0.0006/10/200519/10/2005 (PDF)
Sep 054.50 %4.60 %0.10 %6.50 % 0.0008/09/200521/09/2005 (PDF)
Aug 054.50 %4.60 %0.09 %6.50 % 0.2504/08/200517/08/2005 (PDF)
Jul 054.75 %4.66 %-0.09 %6.75 % 0.0007/07/200520/07/2005 (PDF)
Jun 054.75 %4.84 %0.09 %6.75 % 0.0009/06/200522/06/2005 (PDF)
May 054.75 %4.89 %0.14 %6.75 % 0.0009/05/200518/05/2005 (PDF)
Apr 054.75 %4.94 %0.19 %6.75 % 0.0007/04/200520/04/2005 (PDF)
Mar 054.75 %4.99 %0.24 %6.75 % 0.0010/03/200523/03/2005 (PDF)
Feb 054.75 %4.89 %0.14 %6.75 % 0.0010/02/200523/02/2005 (PDF)
Jan 054.75 %4.87 %0.12 %6.75 % 0.0013/01/200526/01/2005 (PDF)
 
Dec 044.75 %4.87 %0.12 %6.75 % 0.0009/12/200422/12/2004 (PDF)
Nov 044.75 %4.88 %0.13 %6.75 % 0.0004/11/200417/11/2004 (PDF)
Oct 044.75 %4.90 %0.15 %6.75 % 0.0007/10/200420/10/2004 (PDF)
Sep 044.75 %4.95 %0.20 %6.75 % 0.0009/09/200422/09/2004 (PDF)
Aug 044.75 %4.96 %0.21 %6.75 % 0.2505/08/200418/08/2004 (PDF)
Jul 044.50 %4.86 %0.36 %6.50 % 0.0008/07/200421/07/2004 (PDF)
Jun 044.50 %4.79 %0.29 %6.50 % 0.2510/06/200423/06/2004 (PDF)
May 044.25 %4.53 %0.28 %6.25 % 0.2506/05/200419/05/2004 (PDF)
Apr 044.00 %4.39 %0.39 %6.00 % 0.0008/04/200421/04/2004 (PDF)
Mar 044.00 %4.30 %0.30 %6.00 % 0.0004/03/200417/03/2004 (PDF)
Feb 044.00 %4.17 %0.17 %6.00 % 0.2505/02/200418/02/2004 (PDF)
Jan 043.75 %4.06 %0.31 %5.75 % 0.0008/01/200421/01/2004 (PDF)
 
Dec 033.75 %4.02 %0.27 %5.75 % 0.0004/12/200317/12/2003 (PDF)
Nov 033.75 %3.98 %0.23 %5.75 % 0.2506/11/200319/11/2003 (PDF)
Oct 033.50 %3.80 %0.30 %5.50 % 0.0009/10/200322/10/2003 (PDF)
Sep 033.50 %3.70 %0.20 %5.50 % 0.0004/09/200317/09/2003 (PDF)
Aug 033.50 %3.52 %0.02 %5.50 % 0.0007/08/200320/08/2003 (PDF)
Jul 033.50 %3.49 %-0.01 %5.50 % 0.2510/07/200323/07/2003 (PDF)
Jun 033.75 %3.64 %-0.11 %5.75 % 0.0005/06/200318/06/2003 (PDF)
May 033.75 %3.63 %-0.12 %5.75 % 0.0008/05/200321/05/2003 (PDF)
Apr 033.75 %3.64 %-0.11 %5.75 % 0.0010/04/200323/04/2003 (PDF)
Mar 033.75 %3.66 %-0.09 %5.75 % 0.0006/03/200319/03/2003 (PDF)
Feb 033.75 %3.75 %0.00 %5.75 % 0.2506/02/200319/02/2003 (PDF)
Jan 034.00 %3.98 %-0.02 %6.00 % 0.0009/01/200322/01/2003 (PDF)
 
Dec 024.00 %4.02 %0.02 %6.00 % 0.0005/12/200218/12/2002 (PDF)
Nov 024.00 %3.97 %-0.03 %6.00 % 0.0007/11/200220/11/2002 (PDF)
Oct 024.00 %3.96 %-0.04 %6.00 % 0.0010/10/200223/10/2002 (PDF)
Sep 024.00 %3.99 %-0.01 %6.00 % 0.0005/09/200218/09/2002 (PDF)
Aug 024.00 %3.98 %-0.02 %6.00 % 0.0001/08/200214/08/2002 (PDF)
Jul 024.00 %4.06 %0.06 %6.00 % 0.0004/07/200217/07/2002 (PDF)
Jun 024.00 %4.18 %0.18 %6.00 % 0.0006/06/200219/06/2002 (PDF)
May 024.00 %4.15 %0.15 %6.00 % 0.0009/05/200222/05/2002 (PDF)
Apr 024.00 %4.17 %0.17 %6.00 % 0.0002/04/200217/04/2002 (PDF)
Mar 024.00 %4.13 %0.13 %6.00 % 0.0007/03/200207/03/2002 (PDF)
Feb 024.00 %4.05 %0.05 %6.00 % 0.0007/02/200220/02/2002 (PDF)
Jan 024.00 %4.04 %0.04 %6.00 % 0.0010/01/200223/01/2002 (PDF)
 
Dec 014.00 %4.05 %0.05 %6.00 % 0.0005/12/200119/12/2001 (PDF)
Nov 014.00 %4.00 %0.00 %6.00 % 0.5008/11/200121/11/2001 (PDF)
Oct 014.50 %4.43 %-0.07 %6.50 % 0.2504/10/200117/10/2001 (PDF)
Sep 014.75 %4.73 %-0.02 %6.75 % 0.2506/09/200119/09/2001 (PDF)
Aug 015.00 %5.00 %0.00 %7.00 % 0.2502/08/200115/08/2001 (PDF)
Jul 015.25 %5.25 %0.00 %7.25 % 0.0005/07/200118/07/2001 (PDF)
Jun 015.25 %5.26 %0.01 %7.25 % 0.0006/06/200120/06/2001 (PDF)
May 015.25 %5.25 %0.00 %7.25 % 0.2510/05/200123/05/2001 (PDF)
Apr 015.50 %5.40 %-0.10 %7.50 % 0.2505/04/200118/04/2001 (PDF)
Mar 015.75 %5.55 %-0.20 %7.75 % 0.0008/03/200121/03/2001 (PDF)
Feb 015.75 %5.76 %0.01 %7.75 % 0.2508/02/200121/02/2001 (PDF)
Jan 016.00 %5.84 %-0.16 %8.00 % 0.0011/01/200124/01/2001 (PDF)
 
Dec 006.00 %5.96 %-0.04 %8.00 % 0.0007/12/200020/12/2000 (PDF)
Nov 006.00 %6.09 %0.09 %8.00 % 0.0009/11/200022/11/2000 (PDF)
Oct 006.00 %6.16 %0.16 %8.00 % 0.0005/10/200018/10/2000 (PDF)
Sep 006.00 %6.21 %0.21 %8.00 % 0.0007/09/200020/09/2000 (PDF)
Aug 006.00 %6.22 %0.22 %8.00 % 0.0003/08/200016/08/2000 (PDF)
Jul 006.00 %6.19 %0.19 %8.00 % 0.0006/07/200019/07/2000 (PDF)
Jun 006.00 %6.23 %0.23 %8.00 % 0.0007/06/200021/06/2000 (PDF)
May 006.00 %6.30 %0.30 %8.00 % 0.0004/05/200017/05/2000 (PDF)
Apr 006.00 %6.30 %0.30 %8.00 % 0.0006/04/200019/04/2000 (PDF)
Mar 006.00 %6.23 %0.23 %8.00 % 0.0009/03/200022/03/2000 (PDF)
Feb 006.00 %6.24 %0.24 %8.00 % 0.2510/02/200023/02/2000 (PDF)
Jan 005.75 %6.14 %0.39 %7.75 % 0.2513/01/200026/01/2000 (PDF)
 
Dec 995.50 %6.05 %0.55 %7.50 % 0.0009/12/199922/12/1999 (PDF)
Nov 995.50 %5.87 %0.37 %7.50 % 0.2502/11/199917/11/1999 (PDF)
Oct 995.25 %6.03 %0.78 %7.25 % 0.0007/10/199920/10/1999 (PDF)
Sep 995.25 %5.41 %0.16 %7.25 % 0.2508/09/199922/09/1999 (PDF)
Aug 995.00 %5.26 %0.26 %7.00 % 0.0005/08/199918/08/1999 (PDF)
Jul 995.00 %5.17 %0.17 %7.00 % 0.0008/07/199921/07/1999 (PDF)
Jun 995.00 %5.22 %0.22 %7.00 % 0.2510/06/199923/06/1999 (PDF)
May 995.25 %5.35 %0.10 %7.25 % 0.0006/05/199919/05/1999 (PDF)
Apr 995.25 %5.32 %0.07 %7.25 % 0.2508/04/199921/04/1999 (PDF)
Mar 995.25 %5.42 %0.17 %7.25 % 0.0003/03/199917/03/1999 (PDF)
Feb 995.50 %5.53 %0.03 %7.50 % 0.2504/02/199917/02/1999 (PDF)
Jan 996.00 %5.90 %-0.10 %8.00 % 0.2507/01/199920/01/1999 (PDF)
 
Dec 986.25 %6.47 %0.22 %8.25 % 0.5010/12/199823/12/1998 (PDF)
Nov 986.75 %6.97 %0.22 %8.75 % 0.5005/11/199818/11/1998 (PDF)
Oct 987.25 %7.22 %-0.03 %9.25 % 0.2508/10/199821/10/1998 (PDF)
Sep 987.50 %7.47 %-0.03 %9.50 % 0.0010/09/199814/09/1998 (PDF)
Aug 987.50 %7.73 %0.23 %9.50 % 0.0006/08/199816/09/1998 (PDF)
Jul 987.50 %7.81 %0.31 %9.50 % 0.0009/07/199812/08/1998 (PDF)
Jun 987.50 %7.72 %0.22 %9.50 % 0.2504/06/199815/07/1998 (PDF)
May 987.25 %7.49 %0.24 %9.25 % 0.0007/05/199810/06/1998 (PDF)
Apr 987.25 %7.54 %0.29 %9.25 % 0.0009/04/199813/05/1998 (PDF)
Mar 987.25 %7.56 %0.31 %9.25 % 0.0005/03/199815/04/1998 (PDF)
Feb 987.25 %7.54 %0.29 %9.25 % 0.0005/02/199811/03/1998 (PDF)
Jan 987.25 %7.58 %0.33 %9.25 % 0.0008/01/199811/02/1998 (PDF)
 
Dec 977.25 %7.72 %0.47 %9.25 % 0.0004/12/199714/01/1997 (PDF)
Nov 977.25 %7.63 %0.38 %9.25 % 0.2506/11/199710/12/1997 (PDF)
Oct 977.00 %7.36 %0.36 %9.00 % 0.0009/10/199712/11/1997 (PDF)
Sep 977.00 %7.30 %0.30 %9.00 % 0.0011/09/199715/10/1997 (PDF)
Aug 977.00 %7.24 %0.24 %9.00 % 0.2507/08/199717/09/1997 (PDF)
Jul 976.75 %7.04 %0.29 %8.75 % 0.2510/07/199713/08/1997 (PDF)
Jun 976.50 %6.65 %0.15 %8.50 % 0.2506/06/199716/07/1997 (PDF)