Changes will come into effect from 1st June for existing customers with mortgages linked to the Bank of England Base Rate, and from 10 May 2022 all new illustrations and mortgage offers (origination) will reflect the new BBR.
The Aldermore Managed Rate (AMR), the Bank’s standard variable mortgage rate, will increase from 5.23% to 5.48% from 1 June 2022 for existing customers. From 10 May 2022 all new illustrations and mortgage offers (origination and product switch) will reflect the new AMR.
The bank said any existing customers affected by the announcement will be informed of the changes.
