![]() ![]() The effect of interest rates on mortgage costs is a significant issue on the minds of first-time buyers and those approaching the end of their fix.īut people looking to find a new deal also have to consider the possibility that their policy may come with an upfront fee - a less-discussed aspect of the mortgage-hunting process.Īnalysis by consumer champion Which? found that six in 10 fixed-rate and tracker mortgages on the market now come with product fees - with the highest charge sitting at a whopping £3,999 set by Halifax. "Based on the £1.81trn that Brits have in savings accounts, it means the nation's savings could have collectively lost as much as £113bn over the past year in real terms." The average saver with £1,000 in an easy-access account will now find their cash is only worth £938 in today's money, Ms Suter added. "Although interest rates have risen considerably over the past year and a half, savers still lost money in real terms thanks to double-digit inflation for much of that period," she said. The platform's head of personal finance Laura Suter says savers are "still being pummelled" despite a slight fall in inflation, as they put up with lower returns on their savings. ![]() The rising cost of living has left many of us feeling the pinch in our day to day lives - but also when it comes to preparing for the future.Īnalysis by investment platform AJ Bell suggests that as much as £113bn may have been wiped off the value of the nation's savings in real terms over the past year as a result of rising inflation. ![]()
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