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IF acts on base rate rise

Intelligent Finance is moving its SVR mortgages up to 6.65% from 6.30% which it says will ensure it remains a top four player in terms of competitive SVRs available.

It will also pass on the Bank of England’s 0.25% base rate rise to its savings and ISA customers.

IF’s tracker offset mortgages will start with rates of 5.09% and non-offset tracker mortgages with rates of 5.39%.

Mark Parker, managing director at IF, says: “People continue to be dazzled by simple headline rates alone and fail to realise that offsetting can give them a ‘real rate’ as high as 11%.

“Getting a competitive mortgage and savings rate doesnt need to involve moving money every six months as offsetting offers both long-term value and flexibility.”

The rate changes start from January 28 this year.


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