08 Aug 2023

Product update - Mortgages

Following the 0.25% increase in the Bank of England Bank Rate on Thursday 3 August, mortgage members who are on Nationwide’s Base Mortgage Rate (BMR)1 product will see a rise of 0.25% to 6.75% from 1 September 2023.

The Society’s Standard Mortgage Rate (SMR)2 will remain unchanged at 7.99%.

Notes to editors

1 The BMR is the revert to rate for Nationwide mortgages taken out on or before 29 April 2009.

2 The SMR is the revert to rate for Nationwide mortgages taken out on or after 30 April 2009.