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Rate increases Archive
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Lenders hike mortgage rates for 1.2 million borrowers
This month, and within days of the three-year anniversary of the Bank of England’s last change in interest rates (when they were cut to their current level of 0.5%), we’ve seen four mortgage lenders announce hikes in their Standard Variable Rate (SVR). The upshot of these changes will be a rise in monthly mortgage payments [...] -
How would a mortgage rate rise affect your finances?
If you’re one of the 1.2 million homeowners affected by the recent rises in lender Standard Variable Rates (SVRs), make sure you check to see what your new repayments will be. You may have been enjoying a low and stable interest rate for a while, but that is about to change and it’s important that [...] -
Halifax Gives its SVR Cap More Headroom
Halifax has announced that it will increase the cap that applies to its standard variable rate (SVR) for some borrowers. The cap will increase from 3% above Bank of England Base Rate to as much as 3.75% above Base Rate. That may not come as a big surprise to some as this isn’t the first [...]
