Santander Increases Standard Variable Rate

Following the Bank of England rate increase from 0.25% to 0.50% Santander has confirmed they will be increasing their Santander Standard Variable Rate (SVR) from 4.49% to 4.74%.

 

The change will affect any Santander customers currently on their Standard Variable Rate from the beginning of December 2017.

 

While they have increased their Standard Variable Rate (SVR) they have made no other changes to their current product range (at the time of writing).

 

With Santander’s Variable Rate (SVR) being considerably higher than the fixed and tracker rates currently available it is important to check you are getting the best deal for your circumstances. Overpaying on a high SVR could potentially cost you hundreds or even thousands of pounds in additional interest charges.

 

Whether you have a perfect credit score or a bad credit report, we would love to hear from you. For a free mortgage review contact Plus Financial Solutions today on 01604 328 091.

 

 

Kent Reliance Increases Standard Variable Rate

Following the decision by the Monetary Policy Committee to increase the Bank of England base rate, Kent Reliance has undertaken a review of their current mortgage interest rates. This has resulted in their decision to increase the Residential and Buy to Let Standard Variable Rate (SVR) by <b>0.25%</b> effective from <b>1 December 2017.</b></span></p>

The change will affect any Kent Reliance customers currently on their Standard Variable Rate (SVR) from the beginning of December 2017.

 

While they have increased their Standard Variable Rate (SVR) they have made no other changes to their current product range (at the time of writing).

 

With Kent Reliance’s variable rate being considerably higher than the fixed and tracker rates currently available it is important to check you are getting the best deal for your circumstances. Overpaying on a high SVR could potentially cost you hundreds or even thousands of pounds in additional interest charges.

 

Whether you have a perfect credit score or a bad credit report, we would love to hear from you. For a free mortgage review contact Plus Financial Solutions today on 01604 328 091.

 

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Guaranteed Mortgage Approval Bad Credit

Do any lenders offer a guaranteed mortgage approval for bad credit application?

This is something we are often asked by our clients. Unfortunately, there are no mortgage lenders who will guarantee to approve a mortgage. This is the same for both high street lenders and adverse credit lenders.

Below are some tips on how to avoid being declined for a mortgage when you have bad credit:

  1. Check your credit report and ensure it is accurate. If there are any errors in the report contact the company concerned and attempt to resolve the issue before applying for a mortgage
  2. Check you meet the lender’s affordability criteria, many lenders will allow you to check affordability using their online calculators on their website
  3. Ensure you meet the lender’s adverse criteria, after reviewing your report you should know be aware of what is showing on your report and should be able to check with the lender to see if they will lend to you.
  4. Seek expert advice from a qualified whole of market mortgage adviser

 

If you need any help finding a great mortgage deal speak to Plus Financial Solutions, we would love to help you obtain the mortgage you need today!

Call us today on 01604 328 091