Savings rates hot up after years of low returns
Providers are leapfrogging each other on top savings rates as they try to raise money to lend. …
As a result, the interest charged on new fixed-rate mortgages has been increasing. The average two-year fixed deal now has a rate of close to 6.5%, according to the financial information service Moneyfacts. On the day of the mini-budget, it was 4.74%.
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