Aldermore will be decreasing variable mortgage rates by 0.65% following the Bank of England’s decision to decrease the Bank Base Rate by 0.75% to 0.25% on 11 March, and then to 0.10% on 19 March.

Customers with mortgages linked to the Bank of England Base Rate (BBR) will decrease by 0.50 percentage points on 1 April 2020, and then by a further 0.15 percentage point on 1 May 2020.

The Aldermore Managed Rate (AMR), the Bank’s standard variable mortgage rate, will decrease from 5.23% to 4.58% for new and existing customers on 1st May 2020.

Aldermore customers affected by the announcement will be informed of the changes to their account in line with their account terms and conditions.