Base Rate Calculator
Use our calculator find out how your mortgage repayments may be affected by changes to the Bank of England Base Rate if you're on a variable rate mortgage.
Current Base Rate: 3.75%
Last Bank of England decision: 18 June 2026
Next decision due: 30 July 2026
Source: Bank of England
How to use the Base Rate calculator
Enter your mortgage type
Enter your current mortgage balance and the number of years you have left
Enter your current mortgage interest rate
View how changes to the Base Rate could affect your monthly mortgage repayments
What is the Bank of England Base Rate?
The Bank of England (BoE) base rate, also known as the bank rate, can affect your mortgage repayments. If your mortgage has a variable interest rate (for example, a Tracker Mortgage or if you're on your lender's Standard Variable Rate), as the base rate goes up, your mortgage repayments might also increase. But if it goes down, you could end up paying less.
Will a Base Rate change affect your mortgage repayments?
Your situation | Base Rate impact |
|---|---|
You're on a Fixed Rate mortgage | Your monthly repayment normally will not change until your fixed deal ends, but remortgage options may be affected. |
You're on a Tracker Mortgage | Your rate usually moves in line with the base rate, based on your tracker margin |
You're on your lender's Standard Variable Rate | Your lender may change your rate after a base rate change, but not always by the same amount. |
How often does the Base Rate change?
The Bank of England (BoE) monetary policy committee (MPC) meet approximately every six weeks to set the Base Rate.
The BoE can choose to raise, lower, or keep the Base Rate the same to control inflation and manage the UK economy.
How the Base Rate controls inflation
If prices are rising too quickly, the BoE tend to raise interest rates to encourage saving and slow down consumer spending. Reducing spending also reduces demand for goods and services, which forces prices to stabilise or lower.
How the Base Rate boosts the economy
If spending is slugging, the BoE lower interest rates to make borrowing cheaper and saving less attractive. This encourages individuals and businesses to spend and invest, which stimulates economic growth.
More expert guides, tools, and advice
Author
Beth Leslie
Senior Insurance Content Editor
Beth is an experienced writer and editor who specialises in financial and economic content. She is currently the Senior Insurance Content Editor for MoneySuperMarket. Beth is passionate about making...
Reviewer
Alan Cairns
Senior Content Editor
Alan breaks down money, home, and energy topics into plain English to help you save money. Ask him about pound cost averaging or Balkonkraftwerk.
