Wednesday, 3 October 2012

Santander mortgage rise

Santander mortgage customers on Standard Variable Rate face a hike in their payments from today.

The typical customer will have to shell out and extra £26 a month.

They're not the only ones: Co-op Bank, Halifax, Bank of Ireland and the Yorkshire and Clydesdale banks have all imposed similar increases this year.

But Santander's rate is already pretty high. Now it'll be 4.74%, compared with Halifax's 3.99%.

Here are more details from BBC Online.

And here's how the Co-op blames interest-hungry savers for the round of SVR increases.

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