monthly payments rise this Wednesday, putting financial pressure on many already strained household budgets. The Spanish-owned bank is pushing up its standard variable rate (SVR) from 4.24 per cent to 4.74 per cent, defending the move by saying the cost of providing mortgages has risen over the past three years. It also says the rate rise is necessary because the cost of running a bank in Britain has increased ‘dramatically’ as a result of regulatory demands, forcing it to hold more cash and build a bigger capital buffer....Read more here: Santander defends rises on 400,000 mortgages