Halifax, which was Britain's largest mortgage lender before the credit crunch, wrote to borrowers telling them that it was increasing the cap on its standard variable rate (SVR) from 3 percentage points above Bank Rate to 3.75 points in three months' time.
If it then acted to move its rate up in line with the cap, around a million borrowers would end up paying 4.25pc on their mortgage as opposed to 3.5pc.
RBS raises mortgage rates as Halifax prepares to follow suit - Telegraph
If it then acted to move its rate up in line with the cap, around a million borrowers would end up paying 4.25pc on their mortgage as opposed to 3.5pc.
RBS raises mortgage rates as Halifax prepares to follow suit - Telegraph
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