Santander, NatWest, HSBC and Nationwide increase standard variable rates
Some of the UK’s biggest mortgage lenders have increased their standard variable rates (SVR's) following the Bank of England’s base rate hike.
Santander, HSBC, NatWest, Halifax, Barclays and Nationwide Building Society have raised their SVR's and follow-on rates by the full 0.25%.
| Santander | SVR increased from 4.74% to 4.99% |
| HSBC | SVR increased from 3.94% to 4.19% |
| NatWest | SVR increased from 3.99% to 4.24% |
| Halifax | SVR increased from 3.99% to 4.24% |
| Nationwide BS | SVR increased from 3.99% to 4.24% |
| Barclays | SVR increased from 4.99% to 5.24% |
When the Bank of England raises the base rate, it does not generally take the lenders very long to increase their reversion rates.
Aaron Strutt, product director at Trinity Financial, says: “It is a good time to assess your mortgage options if you are about to revert onto your lender's standard variable rate or you are on a lifetime tracker deal.
“Even though the base rate has increased there are still some fantastically low fixed and tracker rates available. Santander’s five-year rate offers great value for money.”
If you are planning to remortgage the first thing you should do is contact your mortgage lender and find out the rate they will offer you to stay. You can then research the market to find out if you can get a better deal.
Over the last few days, some of the lenders have increased their mortgages rates. Accord Mortgages increased its discounted variable rates by up to 0.3% and Barclays has raised some rates.
Call Trinity Financial on 020 7016 0790 to remortgage or arrange a product transfer
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