What Will Happen To My Base Rate If The Bank Of Englands Base Rate Increases?

This will depend on what type of mortgage product you have chosen:
Fixed: The mortgage rate is agreed at the start of the mortgage and will not change during the term of the fixed rate. So if the base rate goes up your payments are fixed and therefore stay the same during the fixed rate period.
Discounted: A discounted rate mortgage offers you reduced repayments for a given term. This interest rate is discounted from the published bank standard variable rate, or 100% standard variable rate if applicable, for an agreed period from the start of the mortgage. What this means for you the borrower is that you are guaranteed to pay a set amount below the standard variable rate for the period of the discount. The standard rate can go up and down, but the discount amount remains fixed during the agreed period.
Tracker: This is a variable rate mortgage where the interest rate is linked directly to the Bank of England Base Rate. Therefore if the Bank of England Base rate goes up then your tracker mortgage changes up by the same amount. For example, if the Base Rate increases by 0.25% then your mortgage will increase by the same amount.
Capped: This is a type of loan where a maximum rate of interest is set at the start of the mortgage term. During the capped rate period the interest rate can fall below the capped rate but will never rise above it.

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