Santander rate hike about to kick in
Santander wrote toÂ approximatelyÂ 400,000 of their mortgage customers last month to tell them their standard variable rate will increase from 4.24% to 4.74%. The change is likely to take effect from October 3.
According the bank, the move was prompted by an increase in the cost of providing mortgages and higher savings rates.
If you are sitting on a standard variable rate and would like a free mortgage review - call us on 020 7016 0790
Trinity Financial spoke to the BBC on the day of Santander's announcement and we explained the dangers of remaining on a standard variable rate.
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