Your interest rate
The current interest rate on your mortgage will depend on the original deal that you took out with your original lender, and whether any product changes have happened since then.
The interest rate and type of rate hasn’t changed as a result of your mortgage moving to us.
Find out what rate you’re on
You can quickly find your current mortgage interest rate and monthly payment amount using our online Self-Serve system. This is available 24 hours a day, 7 days a week from any device.
What’s more, if your interest rate and monthly payment will be changing due to an interest rate change, you’ll see details of the new payment amount and the date this will apply.
For more details, please see our Self-Serve section.
Find out information about your account online with Self-Serve
You can also find your current interest rate on the latest rate change letter that we may have sent you, or in your most recent annual mortgage statement – noting that some of that information could be out of date depending on when the statement was sent, as changes may have occurred since then.
Alternatively, please contact us and we’ll give you this information.
Interest rate changes
If your interest rate is changing, we will write to you at least four working days before any change is made to your required monthly payment.
You can find out the latest information about interest rate changes here.
Interest rate types
There are different interest rate types, with useful explanations shown below.
If you’re unsure which type of interest rate you’re on, please have a look at the mortgage Terms and Conditions that you’ll have been given when you originally took out your mortgage.
Alternatively, please contact us to check.
If you’re on a PVR, your interest rate will always be a set percentage amount above the Bank of England (BoE) base rate for the full term of your mortgage.
If the BoE base rate changes, your interest rate will also change soon after. When that happens, we’ll always write to you at least four working days before any change is made to your required monthly payment.
If you’re on SVR, your interest rate is set by us and is not directly linked to any other external rates.
Whenever we change our SVR, we’ll always write to you to let you know your new rate and monthly payment at least four working days before any changes.
Find out more on our rate change information page.
A tracker mortgage tracks changes in a base rate (often the Bank of England base rate) for a set length of time. Your rate could be a set percentage amount above or below the rate it is tracking.
If the base rate that is being tracked changes, your interest rate will also change soon after. When that happens, we’ll always write to you at least four working days before any change is made to your required monthly payment.
This is where you have a discount off either a Product Variable Rate (PVR) or our Standard Variable Rate (SVR) for a set length of time.
If the PVR or SVR changes, your discounted interest rate will also change soon after. When that happens, we’ll always write to you at least four working days before any change is made to your required monthly payment.
A fixed rate means your interest rate will not change until a set date.
When the fixed rate ends, you will then usually move to a Product Variable Rate (PVR) or our Standard Variable Rate (SVR), depending on the Terms & Conditions of your mortgage.
We’ll write to you before your fixed rate ends to let you know your new interest rate and monthly payment.
If you had a mortgage where the interest rate was linked to the London Interbank Offered Rate (LIBOR), the Financial Conduct Authority (FCA) required that your account should be moved to a new reference rate.
Since October 2021, your interest rate has been linked to the Bank of England base rate. Mortgage Express sent you a letter about this change at the end of July 2021 explaining the changes and how they would impact your mortgage.
For more details, please refer to the letter you received.
To read more about the transition from LIBOR, please visit the Financial Conduct Authority’s website.
Interest rate changes
All the key info you need about the latest changes to the Bank of England base rate and our SVR.
See if you’re impacted so you can plan ahead.
Find out moreYour mortgage account
Quickly find key details about your mortgage – such as your interest rate, monthly payment, remaining term and the amount you currently owe.
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