What is The Base Rate

The Bank of England Base Rate, set by its Monetary Policy Committee every month, determines lending rates in the UK. Directly or indirectly, all mortgage rates are linked to the present or past Base Rate.

When is the Base Rate Set?

The base rate is set usually on the First Thursday of the month, at approx 12:30pm
However sometimes it can be delayed to the second Thursday if there is an event of the 1st of the month falls very near to a Thursday.