Standard variable rate reached 4.91% at the start June – before last week’s rise in base rate by the Bank of EnglandThe average standard variable rate paid by UK mortgage borrowers reached its highest level in 13 years this month, it was revealed on Monday, and last week’s increase in the Bank of England base rate is to push it up further.The financial firm Moneyfacts said the average SVR had gone up to 4.91% at the start June, and was up by 0.51 percentage points on December 2021. It is now at its highest level since February 2009. Continue reading…
Source : theguardian.com
Read more…Average SVR paid by UK mortgage borrowers hits highest level in 13 years
