Interest rates

/Interest rates

Warning…this briefing is of little or no interest!

Covid-19 has impacted all our lives in many ways and bank deposits have unfortunately not been an exception. Since the Bank of England cut its rate to an historic low in March this year, there have been brutal cuts to savings rates across all banks. For example the best ISA instant-access rate is now only [...]

One million homeowners with no plan to repay

Recent research by the Citizens Advice Bureau indicated that almost one million homeowners with interest only mortgages have no plan in place to repay the debt at the end of the mortgage term. Unless they take action, these people are facing the risk of being forced by the lender to sell their homes when the [...]

Plus ça change

Yesterday (6 March 2014), the Bank of England's Monetary Policy Committee...'voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.' Apart from a brief burst of excitement in July 2012 (when an additional £50 billion was [...]