Housing round up: More Standard Variable Rate increases and house prices fall

Housing & mortgage round upIn this week’s housing round up we look at another rise in a lender’s Standard Variable Rate and bring you figures from the latest Halifax house price survey. Finally we highlight research from Unbiased.co.uk which shows some of us have an alarming lack of interest in our mortgage. More lenders increase their Standard Variable Rate The Clydesdale and Yorkshire Bank are the latest mortgage lenders to announce an increase to their Standard Variable Rate (SVR). 30,000 mortgage customers of the two ...

Halifax to increase Standard Variable Rate

Halifax increase standard variable rate mortgagesDespite the Bank of England holding base rate at 0.5% for nearly three years the Halifax has announced it will be increasing its Standard Variable Rate (SVR). The move will see the Halifax’s SVR jump from 3.50% to 3.99% from 1st May 2012 and will affect borrowers currently on the SVR or with mortgage products, principally discounted rate mortgages, linked to it. Increased costs The Halifax said that the rise was necessary due to the increased cost of raising funds to lend in ...