Santander will increase its standard variable from 4.24% to 4.74% on the 3/10/2012.
This is a 0.5% increase, even though Bank of England Base rate has not changed for the last 3 years.
Someone with a £150,000 mortgage in Cardiff would see their payments increase by £516 a year
Santander has also changed its rules to allow it to increase its SVR even more.
There are better rates out there that only require 15% equity in your property. A good example of this is the Britannia. They offer a tracker rate for term of the mortgage of Bank of England Base Rate currently 0.5% plus 3.69%. Making a current pay rate of 4.19%. Included in this package is free legal and free valuation. There is no arrangement fee charged by the lender. The drawback is that you have to switch your banking
WHY USE NEIL SOUNDY FINANCIAL SERVICES FOR YOUR REMORTGAGE IN CARDIFF?
The vast majority of mortgage brokers and advisers still restrict their advice to mortgages that pay them commission.
What makes us different is that we give expert impartial on commission and non-commission paying mortgages.
View the video on our homepage that explains how we can offer at least twice the choice of mortgages compared to a standard mortgage broker.
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Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.
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