Posts Tagged ‘Moneyfacts.co.uk’
Mortgage rates drop to seven year low
Mortgage rates are at their lowest for seven years, according to new research.
The study by Moneyfacts.co.uk found the average interest-rate on a two-year fixed rate mortgage is 4.52%, the lowest since September 2003.
Interest rates on fixed rate mortgages have been dropping since September last year as lenders attempt to entice borrowers away from low standard [...]
High inflation gnaws at savings
High inflation continues to diminish the value of money put aside into savings accounts, a financial expert has claimed.
Michelle Slade of Moneyfacts.co.uk said that with the Consumer Price Index at 3%, basic rate taxpayers need to find a savings account paying 3.75% interest to ensure their savings pot retains its full value.
However, only fixed-rate bonds [...]