Borrowers feel mortgage pinch by Finance News Bulletin

Published: 22/05/07

Borrowers are already seeing their monthly mortgage repayments go up just days after last week's Bank of England bottom rate increase from 525 % to 55 %Many lenders have already increased their standard variable tax (SVR) in line with the base rate or announced their intention to do so in June

Some lenders, though, have sneakily upped their interest by more than 025 %Intelligent Finance has increased its counterbalance SVR by 035% to 7%

Standard existence Bank has upped its SVR by 03% to 706 %, and First Active and some Bradford & Bingley SVRs have already risen by 025 %

Bristol & West, Halifax, Lloyds TSB (which includes Cheltenham & Gloucester), countrywide and Northern Rock will follow in JuneBroker Chase de Vere Mortgage Management says someone on Lloyds TSB's SVR, which will rise from 725 % to 75 %, will see monthly refunds rise by £16 on a £100,000 refund mortgage

Anyone buying a tracker product will disburse an additional 025 % a month compared to last week's rates, though many existing borrowers, such as those with Halifax and Lloyds TSB, will get a official pardon until June Existing Northern Rock customers will not see an increase until JulyJames yarn, from broker London & state, says: 'We are seeing the effect of the base speed on variable speeds coming through

' Nationwide has raised all its fixed rate deals by 01% today'choose a loan word 12 months (1 year) 24 months (2 years) 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 years) 108 months (9 years) 120 months (10 years)Please select a type of insurance existence insurance Home and contents Car stop working services Health - medical Health - dental Travel favorite - dog favorite - cat GOThinking about investing in property This is Money has the best in order

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