Mortgage Rates

Mar 9, 2012   Posted by David Arstall

When mortgage deals have come to an end, many people have stayed on the lender’s SVR (standard variable rate) as at that time it would have been more competitive than remortgaging.

There have been significant announcements over the last few days:

  • Halifax are increasing their SVR from 3.50% to 3.99 as from 1st May 2012
  • RBS and Nat West increased their SVR from 3.75% to 4% for all offset mortgages on 1st March 2012
  • The One Account are increasing their interest rates from 3.75% to 4% on 1st May 2012
  • Bank of Ireland are increasing their SVR from 2.99% to 3.99% in June 2012, and to 4.49% in September 2012

A lender can increase their SVR as and when they want. If you are on a tracker though, your interest rate is linked to the base rate and you are unaffected by these changes.

If you are on your lender’s SVR and are concerned about your mortgage increasing, please get in touch at your earliest opportunity. Our advice may well be to leave your mortgage where it is however it is always worth having the discussion.

Please also be aware, that due to numerous requests for this service, we are now undertaking tax returns for many Clients. We charge a fixed fee of £150 for completing, sending and ensuring all information is provided correctly to HMRC for a basic tax return. This has been most beneficial to Clients with Rental Properties or income from various sources.

If you are interested in speaking to us regarding any of the above topics please feel free to contact us at anytime via phone on 01772 750055 or email us on