Shadow Treasury financial secretary Chris Leslie has hit out at mortgage lenders for “sneaky” standard variable rate rises and called on them to do more to warn customers of potential rate rises.

Speaking at a fringe meeting on debt at the Labour autumn conference in Manchester yesterday, Leslie said it is “amazing” that rates are going up when funding is so cheap.

In August Santander increased its standard variable rate by 0.5 per cent to 4.74 per cent which came into force today and earlier this year Halifax, Clydesdale Bank, Yorkshire Building Society and the Co-operative Bank increased their rates.

If you have a mortgage and are currently on the lenders standard variable rate, then why not give us a call to see how much you could potentially save by switching lenders.

Call us on 01489 580020 to discuss your requirements.

You can also contact us via the Contact Us page or by email if you prefer info@parkgate.net and see what we can offer you to ensure that you are not over paying being on the lenders standard variable rate.

 

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