Boe interest rise

leese2504

Hope someone can help clarify things for me.

My friend has asked when the BOE rate rises, say she is currently on 2.99% and the BOE rate rises 0.25% will that mean her rate will rise to 3.24% or does it just depend on what the bank feel like rising it to?

Hope this makes sense.

Thanks

Stochasticity

Depends entirely on what type of mortgage she has.

If it's BOE + 2.49%, then yes, it'll rise to 3.24% if base rate goes to 0.75%.

leese2504

Thanks for the reply! not sure what she has but your reply will help her!!