the decision follows the increase in the Bank of England Base Rate (BBR) on 3 August 2006.
For Northern Rock borrowers whose loans qualify for a loyalty discount after seven years, the new Loyalty Rate will be 6.59% per annum with effect from 1 September 2006 thanks to a 0.25% discount off its Standard Variable Base Mortgage Rate (SVR).
Northern Rock’s SVR will increase by 0.25% to 6.84% pa with effect from 1 September 2006 both for new applicants and existing borrowers.
Rates paid to Northern Rock savers are currently under review. Any savings rate changes will also take effect from 1 September 2006
