Santander followed suit with a mortgage rate increase.
Santander followed in the tracks of Sainsbury’s Bank and Nationwide and was the third big name to increase their mortgage rates with effect from September.
From the 3rd of the month, the SVR increased from 4.74% to 4.99%. Mortgages affected include all tracker related products. Their follow-on rate also increased to 4%.
Despite the key interest rate rise and the reaction of the big high street names, excellently low mortgage rates are still available. With the help of mortgage experts Deal Direct, you could avoid losing out.
Deal Direct’s experienced advisors can assist first-time-buyers in scouring the market for a mortgage solution that makes financial sense and corresponds with your particular circumstances.
If you are currently paying your lender’s SVR, it’s highly likely that your mortgage repayments have already increased. To reduce this outgoing and to protect your bank balance from further rises, the advice would be to investigate what else is available and seek out the most suitable option to switch to.
Deal Direct are ideally placed to assist in either case. With an extensive knowledge of the market and its players, we can guide you effortlessly through all the complexities. As such, you go away secure in the knowledge that the deal you’ve walked away with is the best one possible for you.