FCA has agreed with Santander UK plc that the bank will contact mortgage customers about unclear information it gave before it increased the cap on its standard variable rate (SVR). The change happened in 2008. The letters will explain what happened, what should have happened and how customers should complain if they feel they have lost out financially. FCA commented that only a small number of those contacted are likely to be entitled to redress. (Source: FCA Agrees Bank Action on Unclear SVR Increase)