Following the decrease to the Bank of England Base Rate on 07 November 2024:​

Existing customers with mortgages linked to the Bank of England Base Rate (BBR) will decrease by 0.25% from 01 December 2024. From 08 November all new illustrations and mortgage offers (origination) will reflect the new BBR.

The Aldermore Managed Rate (AMR), the Bank’s independent standard variable rate, will reduce from 9.53% to 9.28% from 01 January 2025 for existing mortgage customers, with a variable rate account linked to AMR.  From 12 December 2024 all new illustrations and mortgage offers will reference the new AMR.

We’re writing to all customers affected by this change to let them know their new interest rate and monthly payments, in line with their mortgage terms and conditions.

What is the Aldermore Managed Rate (AMR)?

Many banks have a Standard Variable Rate (SVR) which is usually influenced by the cost of their borrowing. An SVR can change at a bank’s discretion and normally determines the variable interest rates and reversion rates for mortgages linked to their SVR.

At Aldermore we call our SVR the Aldermore Managed Rate (AMR). The AMR is set by Aldermore and not directly linked to the Bank of England base rate but can be influenced by changes to it as well as other market factors.

If the AMR changes, variable and discounted rate mortgages linked to it will go up and down in line with the AMR.

If you have a variable rate mortgage your interest rate and monthly repayments will be linked to the AMR and therefore will go up and down in line with it. We'll always write to you in advance to let you know of any changes to your current interest rate or monthly repayments.