Category: standard variable rate

Don’t stay on the lenders standard variable rate for the sake of it!

2019 has started as expected, with the main stay being uncertainty. Already we’ve seen three lenders stop lending or pull all of their products due to ‘costs of funding’ and ‘uncertain times ahead’.  This is all a bit ‘de ja vu’ compared to back in 2007/8 before the big ‘crash’.  However, this time we’re not […]

Coming to the end of your product term? Be wary….

As I have said before and with the run up to year end, lenders have been actively looking at their offerings and loosening their criteria, positively. Some rates have even been reduced and nearly all re-mortgage deals now come with a contribution to valuations and legal fees to keep the cost of changing lenders to a […]

Two million people have their mortgage on a lenders Standard Variable Rate!

It is estimated that over two million people have their mortgage currently sitting on the lenders Standard Variable Rate.  These are the findings of the Financial Conduct Authority’s interim review of the mortgage market competition.  The regulator found that consumers are more likely to stay with their existing lender, rather than move to a new […]

Bank Base has risen…… don’t get stuck on the lenders SVR

Last week saw the Bank Base rate rise for the first time in ten years.  It now stands at 0.5%.  The monetary policy, which meets each month to set the base rate, voted by 7 to 2 to increase the rate, in a bid to slow down the rate of inflation which currently stands close […]

Two million sitting on a Lenders Standard Variable Rate!

New lenders will be a key part of the mortgage market in 2016.  A number of lenders have applied for authorisation from the regulator and a number of others have contacted AToM with regards to re-launching in to the market place.  It’s a buoyant market and lenders can see growth in 2016, especially whilst rates […]

Low rates, high fees?

The old saying goes ‘don’t believe everything you read’ (apart from this column of course!).  There’s a lot of very good marketing and PR taking place in the mortgage market as lenders try to increase business volumes and attract new customers in the last quarter of the year.  But are things as the headline suggests? […]

Don’t miss the rates, use a Broker

More mortgage product pulls this week resulting in rate increases. Both Nationwide and Accord withdrew products only giving one hours notice to book the funds. In short, this meant that we had an hour to upload a full application on to the lenders systems to book the rate and secure the funds. One minute over […]

..introducing the Retirement Mortgage

More lenders have joined in the latest trend of increasing their Standard Variable Rate (SVR). This is the Lenders own rate of interest, and the rate which a customer normally reverts to once their specific product (i.e fixed rate) period comes to an end. The latest change comes from Yorkshire/Clydesdale who increased their SVR from […]

Lenders are increasing SVRs now too!

Many existing customers with the Halifax will shortly receive a letter confirming that their Standard Variable Rate will increase from 3.50% to 3.99% on 1st May. Not a nice letter to receive, but it is within the lenders power and will affect between a reported 600,000 – 850,000 customers. A spokesman for the lender says […]