Abbey changes variable tracker rates

Following the increase in the Bank of England's base rate from 5.25 per cent to 5.50 per cent, Abbey's variable tracker rate mortgages, which automatically follow changes in the base rate, will increase by 0.25 per cent.

The changes will come into effect on Monday 14 May for both new and existing customers.

All other mortgage and savings rates are under review and a further announcement will be made in due course.