Intelligent Finance changes rates

Following the decision by the Monetary Policy Committee to increase the base rate by 0.25%, Intelligent Finance is increasing its offset mortgage rate.

IFs SVR will move from 5.70% to 6.05% APR (variable), a movethe lender says will ensure that the bank remains a top four player in terms of competitive SVRs available.

Mark Parker, managing director at Intelligent Finance says: People can really reap rewards by taking a holistic approach to their finances. With an offset mortgage, customers can offset their current account, savings and ISA and get a flexible and tax efficient product, with a real rate on their savings that few products can get close to.