View more on these topics

Regulator should get tough on lenders that have huge SVRs

I was interested to read last week that the Financial Ombudsman Service saw a 2% increase in mortgage-related complaints for the year to March, while complaints relating to lenders’ SVRs increased.

Once again lenders are ripping off borrowers as there is no justification for the huge SVRs many have in place.

While lenders have to make profits to survive, with the Bank of England base rate at 0.5% and LIBOR not much higher where’s the justification for having such high SVRs other than to boost bonuses and pay huge salaries?

I must be missing something because when I ask any lenders to explain their SVR they can’t.

Some say the high rates are to help their savers but clearly this is not the case.

The regulator should act strongly against these institutions rather than attacking the smaller businesses it seems to see as an easier target.



Lenders pay a high price for ignoring the broker channel

It was good to see the story last week that brokers now account for almost two-thirds of all mortgages (Mortgage Strategy Online). I hope lenders see these figures and realise the implication of shutting off a distribution channel as powerful and of such high quality as intermediaries. I hope Mortgage Strategy publishes research based on […]

Interest rate rise feared as inflation touches 3.7% mark

A rise in annual inflation to 3.7% has sparked fears that an interest rate rise could be on the cards sooner rather than later. The Consumer Prices Index increased to 3.7% in April, up from 3.4% in March. The government’s target for the CPI measure of inflation is 2%. The Centre for Economics and Business […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]


News and expert analysis straight to your inbox

Sign up