Bank Rate Change Calculator
What would a Bank Rate rise or cut mean for your mortgage? Our Bank Rate change calculator shows how your monthly payment could change if your rate moved by the same amount, using your own figures.
- Rises and cuts from 0.25% to 1%
- Monthly and yearly difference
- Tracker, variable and fixed rates
Your payment at different rates
Move along the graph, or drag the slider, to see your payment if your rate went up or down by up to 2%. Your choice above updates as you move.
| Rate change | Your new rate | Monthly payment | Change a month | Change a year |
|---|
Repayment mortgage. Illustrative only.
Things to know
- Tracker mortgages follow Bank Rate plus a set margin, so your rate usually moves by the same amount. Your mortgage terms say when a change takes effect.
- Standard variable rates (SVRs) are set by each lender and can change at any time. A lender doesn't have to pass on a Bank Rate change in full, or at all.
- Fixed rates don't change until your deal ends, but the rates on offer for your next deal can move.
- Nobody can know in advance what the Bank of England will decide. This calculator doesn't predict rates.
This calculator shows figures based on what you enter. It isn't a forecast or a recommendation. For a personal recommendation, speak to an FCA-authorised mortgage adviser.
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Bank Rate changes: common questions
What is Bank Rate?
Bank Rate is the interest rate set by the Bank of England's Monetary Policy Committee. It influences the rates banks and building societies charge. It's currently 3.75%, and the next decision is due on 5 November 2026.
Will my mortgage payment change if Bank Rate changes?
It depends on your mortgage. Tracker rates usually move with Bank Rate. Standard variable rates are set by each lender and may change, but not always by the same amount. Fixed rates don't change until your deal ends, but the rates available for your next deal can move.
How quickly would a tracker payment change?
It varies by lender. Your mortgage terms say when a change in Bank Rate takes effect on your rate, and your lender will usually write to you with your new payment.
Can you tell me whether rates will go up or down?
No. Nobody can know in advance what the Monetary Policy Committee will decide. This calculator just shows what different changes could mean for your payment, so you can plan for either.
What if a rise would be hard to afford?
Contact your lender as soon as possible, as lenders have options to help. Talking to your lender doesn't affect your credit file. MoneyHelper also offers free, impartial guidance.
Related tools and guides
Our calculators give illustrative figures based on what you enter. They don't predict interest rates. Mortgage Owl provides general educational information only, not regulated financial advice, and doesn't recommend particular mortgages, lenders or deals. Your home may be repossessed if you do not keep up repayments on your mortgage.
