So, we know the Bank of England rate has been at 0.5% for the last 4 years. Not good news for savers admittedly but much better if you are borrowing. But it does beg the question as to why Santander's Standard Variable Rate is 4.74% - that's 4.24% above!! Try phoning the mortgage advice line and ask something like 'What's 2 + 2?". Well if it's not on their script, how could they possible answer? Don't think I'll go near them with a barge pole.