Current Variable Base Rates
Lenders apply changes in interest rate from the date the change becomes effective, the effective date of the most recent change is shown above. If a change affects you, it will be reflected in your next contractual monthly installment after the change. Product Margin – The interest rate applicable to your mortgage or loan may be comprised of a base rate, such as BBR or LIBOR or a lender’s SVR, plus a product margin (e.g. SVR + 2%). The product margin is fixed and would have been based on the products the lender had available at the time your lender offered your Acenden Mortgages. If you have any queries about how the relevant interest rate applies to your mortgage or loan, please contact our Customer Services Department on 0845 603 6304.
When will my monthly payments change? Where the interest rate applicable to your mortgage or loan is a variable interest rate, we will notify you of any rate change by letter 10 days in advance of it affecting your monthly payment. The applicable interest rate will become effective from the date shown in your letter, and the change will be reflected in your next contractual monthly installment.
Will the rate change next month? That will depend on whether any variable interest rate applicable to your mortgage or loan changes. Whether it changes is dependent on factors outside of the lender’s control. What we can say is that you will be notified of any rate change 10 days before it affects your monthly payment. Your rate may also change if you have come to the end of a fixed or discounted interest rate period.
Why have my payments increased? If a variable interest rate applies to your Acenden or loan, your payments will increase if this variable rate increases. Alternatively your monthly payments may have increased because you have come to the end of a fixed or discounted interest rate period. Please refer to your mortgage
offer or credit agreement for further details. A payment change could be due to any or all of the following: Changes in the repayment method Fees that have been applied to the account Insurance premiums
My payments have increased and I cannot afford to meet the repayments? If you are having trouble making your mortgage or loan repayments, please contact our Collections Department on 0845 602 3806 as soon as possible. Whilst we cannot offer legal, financial or monetary advice, we will consider your personal and financial circumstances and may be able to help with your situation. If, however, you do require legal, financial or monetary advice on your mortgage or loan, you should consider speaking to the Citizens Advice Bureau (CAB) or someone authorized to provide financial advice.