Halifax will be increasing its standard variable rate (SVR) from 6.75% to 7.0%, following last week's base rate rise.

The increase for existing SVR borrowers will come into effect at the same time as the increase in savings rates on 1 December 2006.

Mortgages which track the Bank of England base rate will increase by 0.25% with effect from 11 November 2006.

New monthly mortgage payments for all customers will take effect from 1 December 2006.