Rate change information
We’ll always write to you before your interest rate changes on your mortgage or loan. The letter we send you will tell you about your new rate and when your monthly payment will change, and you won’t need to do anything until you receive our letter.
There’s more information below about what happens when your interest rate changes.
Rate rise calculator
See how an interest rate rise could affect your monthly payments.
Rates have risen several times recently so planning now can help you prepare for any further changes to your payments.
Using this tool
You’ll need to know your outstanding balance, repayment basis (interest only, part & part or capital & interest), current interest rate and remaining term of your mortgage or loan.
Find out how to quickly see up to date information about your account
You may have a Together mortgage with an interest only mortgage and an unsecured loan on a capital and interest basis. If so, you’ll need to enter details for each part separately to see the overall impact of a rate rise on your mortgage.
If you have a mortgage that is made up of multiple sub-accounts, you can also enter details for each part separately.
Understanding the results
Our calculator shows the increase in monthly payments, for a repayment or interest only mortgage or loan, at a range of different interest rates.
The results you’ll see are based on the information you have entered for your current balance, interest rate and remaining term.
Our calculator uses a simple method to determine the amount of interest you’ll pay as part of your monthly payment, by dividing the total amount of interest you’ll pay over a full year into 12 equal monthly amounts.
Since interest on your mortgage or loan may be calculated differently (such as on a daily basis), then the actual change in your monthly payments after an interest rate increase may differ slightly to the figures shown in the calculator.
This means the results should only be used as a guide.