Mortgages: Abbey’s Standard Variable Rate will increase by 0.21%, to 5.75%1. Variable tracker rate mortgages, which automatically follow changes in the base rate, will increase by 0.25%.
Angus Porter, Abbey's Customer Director said: "This is the first increase in the base rate since February 2000 and homeowners are still enjoying historically low rates3. We're balancing the needs of borrowers and savers, and have now narrowed the gap between base rate and our standard variable rate to just 2%."
