January 25th, 2010 
admin 
The pledge news is full of concern regarding the decision by Skipton building society to up their standard variable rate, despite the Bank of England keeping base rate at a historically low 0.5%. The decision has annoyed many mortgage borrowers, not to mention mortgage brokers .
Skipton are thought to be struggling to stay independent, and had to break the promise it gave to much of its mortgage book when they took out a loan . The standard variable rate will now have being far in excess of the three points over the base rate .
The reaction was swift. Mortgage broker London and Country set up a free mortgage helpline for Skipton borrowers looking to leave the club. The decision by Skipton goes against Financial Services Authority pleas to treat customers fairly, more mortgage experts said. Top executives at Skipton said that to stay independent the move was necessary.
Similar Posts:
- Tracker mortgage borrowers face rise in cost
- SVR mortgage customers must not be complacent
- Types Of Mortgage
- Mortgage lenders tipped to raise SVRs
- Different Types of Mortgages Products
Tags: Skipton, Skipton Mortgage