Lenders have been accused of 'penalising savers' and 'squeezing homeowners' by being quicker to react on savings rate changes than adjustments to mortgages.
Mortgage rates have risen since the budget based on expectations further base rate cuts could be delayed - and while this is bad news for borrowers, higher rates should be great for savers. But the Money blog can reveal some of the same banks and building societies that have raised mortgage rates in the last three weeks have, counterintuitively, also reduced savings rates.
On a more positive note, Anna said 'there are others, mainly those providers that are less well-known, that have increased rates since the latest base rate cut'. Here's a look at the best rates currently on offer…. 'So, don't just settle for what you have,' said Anna. 'If your bank or building society is cutting your rate, check if you could earn more elsewhere.
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