SVR’s on the increase

You may have recently been notified that your standard variable rate (SVR) with your lender is going up. Halifax, Royal Bank of Scotland/Nat West, The Co-Operative Bank and a few others are increasing their SVR’s to create higher margins and retain more capital. This increase will undoubtably affect many people as your monthly mortgage payments increase.

This should now prompt you into looking at your mortgage and reviewing whether a more competitive rate is available.