Standard variable rate comparisons - how do different lenders' rates compare?
There's a big difference between the standard variable rates charged by different lenders. Make sure you're aware of this
A lender's standard variable rate is the mortgage rate you pay when you're not on a special deal. The standard variable rate - or SVR - varies between different mortgage lenders. It's worth being aware of if you're switching to a lender - say for a fixed rate or tracker deal - because you may end up on the SVR once the deal runs out. Smaller building societies tend to have higher standard variable rates than bigger banks.
How does equity release work? Understanding the basics of equity release
What do you need to think about if you're taking out an equity release or lifetime mortgage?
Equity release has come in for some pretty bad press over the years, but for some older homeowners, it may be a better option than selling up or trying to survive on their pension. However, it’s an important financial step and you have to be aware of the disadvantages as well as the benefits.
RBS has been fined almost £15 million for failures in its mortgage sales
RBS has failed to deal with 30,000 mortgage sales properly between 2011 and March 2013
RBS bank has been fined. Again. This time it's for failing to sell mortgages properly. The regulator, the Financial Conduct Authority (FCA) checked how RBS was doing and found that only two of the 164 sales it checked were done properly. Two out of 164. That's about 1%. RBS has been fined almost £15 million and says it will contact 30,000 customers who may get compensation.