Cutting SVR branded anti-TCF

Last week, the mutual came under fire from Moneysupermarket.com’s mortgage expert Louise Cuming for having one of the highest SVRs in the UK. The lender has hit back saying a cut in SVR would disadvantage the vast majority of its savings customers in order to help a small minority of borrowers on its standard rate. In a statement released today, the society says: “Kent Reliance has not reduced its SVR rate as it needs to consider the best interests of all its members - savers and borrowers.” A quarter of Kent Reliance borrowers have a tracker mortgage and will benefit from the Bank of En...