Mortgage lender offering some impressive rates on savings

According to a recent report a number of mortgage lenders have been offering some impressive interest rates on savings accounts in a bid to increase deposits from savers to aid funding. Many banks and lending institutions have experienced funding problems as a result of the credit crunch, which has swept across the country leaving a trail of turmoil in the financial markets. A number of high profile casualties, such as Northern Rock, have suffered terribly as a result of the problems in the financial sector, and mortgage lenders are desperate to avoid heading down the same route. Read more

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Bank savings interest rates start to come down

The interest rates being offered to savers with some banks have already started to fall following the recent base rate cut from the Bank of England. Following the latest Monetary Policy Committee meeting early in December the Bank of England announced that interest rates would be falling by 0.25% taking the rate from 5.75% to 5.5%. This followed a series of five interest rate rises between August 2006 and July 2007, after which there were several months where the interest rate remained unchanged at 5.75%. Read more

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