Some long-standing Satander mortgage borrowers are being driven into debt because the bank makes them pay its highest rates

Mortgage giant Santander is continuing to anger longstanding mortgage borrowers by refusing to offer them the lower rates it makes available to new customers. The lender is being accused of hiding behind new, tougher lending rules as a reason to keep borrowers on higher rates. The outcome is that armies of loyal customers are being charged an eye-watering rate of 4.74pc while new borrowers pay half that rate, or less. Customers worst affected are those whose financial circumstances have deteriorated in some way, meaning they cannot easily switch to a rival lender. They described themselves as "trapped" and in the "perverse situation" where Santander, far from helping them, makes their situation worse.

The Telegraph has featured several such cases in previous months, and more are coming forward......Read more here