Page 22 - Standard Variable Rate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

UK borrowers impacted by pandemic face rising mortgage payments, L&G warns UK borrowers who have suffered a drop in income during the pandemic could soon be paying thousands of pounds more in monthly mortgage repayments, according to the latest research.  The survey by Legal & General Mortgage Club found that one in three borrowers are considering staying on their current lender’s Standard Variable Rate (SVR) once their existing mortgage product expires. According to the analysis, moving onto a lender’s SVR could increase annual mortgage repayments by more than £2,500 w...

Trending “It’s vital they avoid falling onto a reversion rate and paying more when there are other options available. “COVID-19 may have dampened the confidence of a large number of borrowers wanting to lock into a new rate, yet the cost of not exploring their refinance options could be significant. “Even for those borrowers who have seen a reduction in income, there may well be products available that would save them money in the long term when compared to their lender’s SVR.” Some 52 percent of borrowers who have seen their income reduced as a result of the ongoing crisis are no...

UK Parliament Lords votes on changes to Financial Services Bill 15 April 2021 2021 The House of Lords continued report stage, a further chance to closely scrutinise a bill and make changes, of the Financial Services Bill on Wednesday 14 April. Members discussed limiting retention of personal data to five years, regulation of bailiffs and bailiff firms and the contribution of financial services companies to climate change targets. Sharia-compliant financial services The first vote was on amendment 15, which requires the Treasury, within six months of the pa...

MARTIN LEWIS has urged the Government to take additional action to help rescue mortgage prisoners from existing arrangements.

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