What is the SVR for Santander?

Standard Variable Rate (SVR) Santander and Alliance & Leicester SVR is currently 4.34%.

What is current SVR?

A standard variable rate, or SVR, is the interest rate that will be charged once an initial deal period on a fixed or tracker rate mortgage comes to an end. With an SVR mortgage, your mortgage payments could change each month, going up or down depending on the rate.

What is Santander tracker rate?

The bank has upped the rate on its 75 per cent loan to value (LTV) two-year tracker rate by 0.20 per cent to 1.49 per cent for purchase and remortgage. This makes the rate 1.39 per cent above the current base rate of 0.1 per cent.

Can I make overpayments on my Santander mortgage?

If you’re on our Follow-on Rate, Standard Variable Rate or a tracker rate mortgage, you can make unlimited overpayments with no early repayment charge. If you’re on a fixed rate mortgage, you can overpay up to 10% of your outstanding balance each calendar year (January to December).

Is the Santander SVR linked to the base rate?

The FoR tracks, and is directly linked to, the Bank of England base rate, so will always move in line with changes to the base rate. This means your interest rate and monthly payments will move up and down as base rate changes. Santander’s Standard Variable Rate (SVR) is currently 4.99%. The Alliance & Leicester SVR is currently 4.99%.

When does the follow on rate end for Santander?

About our follow on rate. As an existing customer, the Follow-on Rate (FoR) is an option for you to consider if you’re already on our Standard Variable Rate (SVR) or when your current deal ends. All mortgage deals taken on or after 23 January 2018 will transfer to the FoR when the initial product period ends.

When does Santander and Alliance and Leicester SVR end?

Santander and Alliance & Leicester SVR will be 4.49% from the beginning of April. Santander and Alliance & Leicester SVR will be 4.34% from the beginning of May. SVR is the rate that all mortgage deals taken before 23 January 2018 automatically transfer to when the initial product period ends.

When do mortgage deals transfer to Santander SVR?

Mortgage deals taken before 23 January 2018 will continue to transfer to Santander’s SVR when the initial product period ends. What is Santander’s Follow-on Rate (FoR)?