After the Bank of England increased the base rate from 5.25 per cent to 5.50 per cent, Abbey's variable tracker rate mortgages, which automatically follow changes in the base rate, will increase by 0.25 per cent.
Changes will come into effect on Monday 14 May for both new and existing customers. Abbey are also in the process of reviewing all other mortgage and savings rates and expect to make further announcements in due course.
