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rights reserved. 2025 The Guardian https://assets.guim.co.uk/images/guardian-logo-rss.c45beb1bafa34b347ac333af2e6fe23f.png https://www.theguardian.com UK interest rate cut: what does it mean

for mortgages and savings? https://www.theguardian.com/business/2025/may/08/uk-interest-rate-cut-mortgages-savings-bank-of-england

The Bank of England has voted to cut the cost of borrowing, reducing the base rate to 4.25%. Here’s what it means for you

href="https://www.theguardian.com/business/2025/may/08/uk-interest-rates-cut-bank-of-england-uk-economy-trump-tariffs">UK interest rates fall to 4.25%

href="https://www.theguardian.com/business/2025/may/08/mood-boosting-rate-cut-is-a-fillip-for-reeves-but-leaves-future-uncertain">Analysis: mood-boosting rate cut is a fillip for Reeves but

leaves future uncertain

href="https://www.theguardian.com/business/live/2025/may/08/bank-of-england-interest-rate-decision-cut-trade-war-pound-ftse-house-price-next-business-live-news">Business live – latest

updates

The Bank of England has cut interest rates from 4.5% to 4.25%. It follows two interest rate cuts in the second half of last year, and another one in February this year.

href="https://www.theguardian.com/business/2025/may/08/uk-interest-rate-cut-mortgages-savings-bank-of-england">Continue reading... Interest rates Economics Business Mortgage rates

Mortgages Savings rates Savings Banks and building societies Money UK news Thu, 08 May 2025 11:03:51 GMT

https://www.theguardian.com/business/2025/may/08/uk-interest-rate-cut-mortgages-savings-bank-of-england Photograph: Oscar Wong/Getty Images Photograph: Oscar Wong/Getty Images Rupert Jones

2025-05-08T11:03:51Z UK savers urged to ‘act now’ before interest rates start falling

https://www.theguardian.com/business/2025/may/07/uk-savers-urged-to-act-now-before-interest-rates-start-falling

Experts say there are competitive products available despite expected Bank of England rate cut

Britain’s savers are being urged to “act now” to take advantage of the best rates before they start falling.

With a Bank of England interest rate cut on Thursday considered a

near-certainty, experts cautioned against “apathy” and said there were still competitive products available for those looking for a better deal on their savings.

href="https://www.theguardian.com/business/2025/may/07/uk-savers-urged-to-act-now-before-interest-rates-start-falling">Continue reading... Bank of England Business Interest rates

Economics Savings rates Savings UK news Wed, 07 May 2025 05:00:05 GMT https://www.theguardian.com/business/2025/may/07/uk-savers-urged-to-act-now-before-interest-rates-start-falling

Photograph: Maureen McLean/REX/Shutterstock Photograph: Maureen McLean/REX/Shutterstock Rupert Jones 2025-05-07T05:00:05Z Cash Isa providers fail to offer savers benefits of more flexible

rules https://www.theguardian.com/money/2025/feb/28/cash-isa-savers-flexible-rules-interest-rates-account

While they offer attractive interest rates, many providers won’t let savers open a second Isa account in the same tax year

href="https://www.theguardian.com/money/2025/mar/01/cash-isas-4000-allowance-tax-free-accounts-limit">Pressure grows against rumoured move to £4,000 allowance

Savers hoping to make the most of their Isa allowance as the end of the tax year approaches may be surprised to find that some providers haven’t adopted rule changes designed to make the

tax-efficient accounts more flexible.

With the future of cash Isas reportedly under discussion at the Treasury, this year’s last-minute rush to invest before 5 April is under way, and providers are offering attractive interest

rates to catch the eyes of savers.

affairs Savings Savings rates Tax Banks and building societies Money UK news Fri, 28 Feb 2025 12:30:08 GMT

https://www.theguardian.com/money/2025/feb/28/cash-isa-savers-flexible-rules-interest-rates-account Photograph: Andrew Paterson/Alamy Photograph: Andrew Paterson/Alamy Hilary Osborne

2025-02-28T12:30:08Z Is the lifetime Isa no longer fit for purpose? https://www.theguardian.com/money/2025/jan/11/is-the-lifetime-isa-no-longer-fit-for-purpose

Martin Lewis says the saving scheme proved a big hit but is starting to penalise the very people it sought to help

It appears to be proving a hit with millennials and generation Z but has also come under fire for the “unfair” sting in its tail. The lifetime

Isa is a scheme that helps people save towards their first home or for their retirement – its big selling point is the free cash you get from the government: up to £32,000

in theory.

But the way the scheme works penalises some people, and the consumer champion

Martin Lewis is among those who have called for an urgent revamp.

href="https://www.theguardian.com/money/2025/jan/11/is-the-lifetime-isa-no-longer-fit-for-purpose">Continue reading... Isas Saving money Savings Savings rates Pensions Martin Lewis Money

Property UK news Sat, 11 Jan 2025 07:00:05 GMT https://www.theguardian.com/money/2025/jan/11/is-the-lifetime-isa-no-longer-fit-for-purpose Photograph: Louisa Svensson/Alamy Photograph:

Louisa Svensson/Alamy Rupert Jones 2025-01-11T07:00:05Z UK interest rates are falling – but it’s not too late to find deals that pay

https://www.theguardian.com/money/2024/nov/11/uk-interest-rates-are-falling-but-its-not-too-late-to-find-deals-that-pay

The peak may have passed, but inflation-beating returns are still available if you’re quick. Here are the highest yielding and safest options

The UK’s army of savers have been given a wake-up call to check their interest rate and to move their money as soon as possible if they are getting a raw deal.

The Bank of England interest rate was cut from 5% to 4.75% on Thursday, while

href="https://www.theguardian.com/business/2024/oct/16/uk-inflation-bank-of-england-interest-rates">inflation is currently running at 1.7%.

href="https://www.theguardian.com/money/2024/nov/11/uk-interest-rates-are-falling-but-its-not-too-late-to-find-deals-that-pay">Continue reading... Savings Savings rates Banks and

building societies Business Money The Observer UK news Mon, 11 Nov 2024 09:00:41 GMT

https://www.theguardian.com/money/2024/nov/11/uk-interest-rates-are-falling-but-its-not-too-late-to-find-deals-that-pay Photograph: Dragon Claws/Getty Images Photograph: Dragon Claws/Getty

Images Rupert Jones 2024-11-11T09:00:41Z How to cut through the small print on savings accounts

https://www.theguardian.com/money/2024/oct/16/small-print-easy-access-savings-accounts-best-buy

Some best-buy, high-paying accounts are not always the best for you

Providers are jostling for position at the top of the best-buy tables – but the best-paying accounts often come with caveats that can catch out unwary savers.

href="https://www.theguardian.com/money/2024/oct/16/small-print-easy-access-savings-accounts-best-buy">Continue reading... Savings rates Savings Saving money Banks and building societies

Money Banking UK news Business Wed, 16 Oct 2024 07:48:52 GMT https://www.theguardian.com/money/2024/oct/16/small-print-easy-access-savings-accounts-best-buy Illustration: Jamie Wignall/The

Guardian Illustration: Jamie Wignall/The Guardian Emma Lunn 2024-10-16T07:48:52Z UK savers urged to find better deals after several banks cut interest rates

https://www.theguardian.com/money/2024/sep/21/uk-savers-better-deal-banks-cut-interest-rates

Bank of England may have kept rates steady this week but TSB, NS&I and others have all announced cuts

Interest rates may have been kept on hold this week, but the direction of travel is clearly downwards, with savers being urged to check the returns they are getting and switch to a better

deal now if their rate isn’t competitive.

On Thursday, the Bank of England kept its base rate at 5% after cutting it

in August, though many economists think there will be another cut, to 4.75%, at the next meeting on 7 November, plus maybe a few more next year. However, the “

href="https://www.theguardian.com/uk-news/article/2024/aug/27/keir-starmer-hints-at-tax-rises-as-he-warns-of-painful-budget">painful” budget taking place on 30 October adds a fair bit of

uncertainty to the mix.

building societies Money Banking Interest rates Economics Business UK news Isas Sat, 21 Sep 2024 07:00:35 GMT

https://www.theguardian.com/money/2024/sep/21/uk-savers-better-deal-banks-cut-interest-rates Photograph: Yorkshire Building Society/PA Photograph: Yorkshire Building Society/PA Rupert Jones

2024-09-21T07:00:35Z Race for UK banks to repay £100bn in Covid loans could help savers

https://www.theguardian.com/business/article/2024/aug/19/race-for-uk-banks-to-repay-100bn-in-covid-loans-could-help-savers

Lenders may look to attract more deposits from savers to raise funds to repay Bank of England pandemic-era loans

Britain’s biggest banks are facing a deadline to repay more than £100bn of pandemic-era loans, which experts say could benefit savers as banks and building societies compete for customers

with attractive rates in a “messy” dash for cash.

More than 70 lenders ranging from high street banks and building societies such as HSBC and Nationwide to digital and specialist lenders such as Starling Bank and Aldermore collectively

borrowed £193bn from the Bank of England as part of an emergency programme rolled out in the early days of the Covid-19 pandemic in 2020.

href="https://www.theguardian.com/business/article/2024/aug/19/race-for-uk-banks-to-repay-100bn-in-covid-loans-could-help-savers">Continue reading... Banking Banks and building societies

Savings Savings rates Bank of England Business Money UK news Bonds Mon, 19 Aug 2024 05:00:49 GMT

https://www.theguardian.com/business/article/2024/aug/19/race-for-uk-banks-to-repay-100bn-in-covid-loans-could-help-savers Photograph: Bloomberg/Getty Images Photograph: Bloomberg/Getty

Images Kalyeena Makortoff Banking correspondent 2024-08-19T05:00:49Z Savers urged to lock in best deals before UK interest rate decision

https://www.theguardian.com/money/article/2024/jul/27/savers-best-deals-uk-interest-rate-top-paying-accounts

With Bank of England meeting on 1 August, people are advised to take advantage of top-paying accounts now

Experts are split on whether there will be a UK interest rate cut on Thursday but most agree on one thing: savers should “act now” to lock into the best rates while they are still available.

All eyes will be on the Bank of England’s monetary policy committee when it meets on 1 August, although while some believe we could see it announce the first base rate cut in more than four

years, others reckon we will have to wait until at least September.

href="https://www.theguardian.com/money/article/2024/jul/27/savers-best-deals-uk-interest-rate-top-paying-accounts">Continue reading... Savings Savings rates Money Banks and building

societies Bank of England Monetary policy committee Interest rates Business UK news Banking Sat, 27 Jul 2024 06:00:17 GMT

https://www.theguardian.com/money/article/2024/jul/27/savers-best-deals-uk-interest-rate-top-paying-accounts Photograph: Ascannio/Alamy Photograph: Ascannio/Alamy Rupert Jones

2024-07-27T06:00:17Z Savers urged to open inflation-beating accounts before UK interest rates fall

https://www.theguardian.com/money/article/2024/jun/28/savers-urged-to-open-inflation-beating-accounts-before-uk-interest-rates-fall

Savings experts say this is a ‘window of opportunity’ to lock into a savings account at a decent rate

UK savers are being urged to lock into an inflation-beating savings account before interest rates start their downward journey.

A number of fixed-rate savings bonds currently pay 5%-plus – on these accounts your return is guaranteed and you will be earning more than twice the current rate of inflation.

href="https://www.theguardian.com/money/article/2024/jun/28/savers-urged-to-open-inflation-beating-accounts-before-uk-interest-rates-fall">Continue reading... Savings Consumer affairs

Money Savings rates Banks and building societies Fri, 28 Jun 2024 07:00:15 GMT

https://www.theguardian.com/money/article/2024/jun/28/savers-urged-to-open-inflation-beating-accounts-before-uk-interest-rates-fall Photograph: Nick Ansell/PA Photograph: Nick Ansell/PA

Rupert Jones 2024-06-28T07:00:15Z Barclays profits tumble 12% as UK interest rates hit mortgage demand

https://www.theguardian.com/business/2024/apr/25/barclays-profits-tumble-12-per-cent-uk-interest-rates-hit-mortgage-demand

Pre-tax profits drop to £2.3bn between January and March, down from £2.6bn last year

• Business live – latest updates

Profits at Barclays tumbled by 12% in the first quarter, as higher UK interest rates weighed on demand for mortgages and loans while a backdrop of economic uncertainty affected its

investment bank.

The UK bank said pre-tax profits fell to £2.3bn in the first quarter, down from £2.6bn last year, when it reported the

href="https://www.theguardian.com/business/2023/apr/27/uk-economy-not-out-of-the-woods-barclays-boss-bank-record-quarterly-profit"> strongest quarterly profit since 2011 after a string

of interest rate hikes by the Bank of England.

href="https://www.theguardian.com/business/2024/apr/25/barclays-profits-tumble-12-per-cent-uk-interest-rates-hit-mortgage-demand">Continue reading... Barclays Banking Banks and building

societies Mortgage rates Business Mortgages UK news Savings rates Savings Money Mortgage lending figures Thu, 25 Apr 2024 08:54:49 GMT

https://www.theguardian.com/business/2024/apr/25/barclays-profits-tumble-12-per-cent-uk-interest-rates-hit-mortgage-demand Photograph: Ian West/PA Photograph: Ian West/PA Kalyeena Makortoff

Banking correspondent 2024-04-25T08:54:49Z UK savers should pick accounts beating rising cost of living while they can

https://www.theguardian.com/money/2024/feb/17/uk-savers-should-pick-accounts-beating-rising-cost-of-living-while-they-can

Many best rates are easy access and notice options rather than ones that lock money away

This week’s news that inflation stayed steady at 4% in January means it is still possible to

put your money in a savings account with an interest rate that beats the rising cost of living.

Returns on fixed-rate savings accounts have been falling, but, so far, variable rate deals have remained unchanged.

href="https://www.theguardian.com/money/2024/feb/17/uk-savers-should-pick-accounts-beating-rising-cost-of-living-while-they-can">Continue reading... Savings Savings rates Money UK cost

of living crisis Banks and building societies UK news Consumer affairs Banking Business Bank of England Interest rates Isas Sat, 17 Feb 2024 10:00:12 GMT

https://www.theguardian.com/money/2024/feb/17/uk-savers-should-pick-accounts-beating-rising-cost-of-living-while-they-can Photograph: PM Images/Getty Images Photograph: PM Images/Getty

Images Hilary Osborne 2024-02-17T10:00:12Z Slash your overdraft costs and get ‘free’ cash: how to get your bank and savings into shape

https://www.theguardian.com/money/2024/jan/08/overdraft-costs-free-cash-bank-savings-current-accounts-isa-savings-best-buy

Switch to a better current account, revive your Isa and pick a savings best buy to make the most of your money

Authorised overdraft costs can vary dramatically. Many banks have overdraft calculators on their websites, so log on and compare what your bank charges versus what you would be charged if

you took your custom elsewhere. But can you switch your current account if you are overdrawn? The answer is yes, says the

Current Account Switch Service (Cass). However, you will need to agree any overdraft you require with your new bank. Alternatively, they may be able to provide facilities to help you pay

off your existing overdraft.

Banks and building societies Current accounts Consumer affairs Money Savings Isas UK news Data and computer security Savings rates Mon, 08 Jan 2024 08:00:03 GMT

https://www.theguardian.com/money/2024/jan/08/overdraft-costs-free-cash-bank-savings-current-accounts-isa-savings-best-buy Illustration: Jamie Wignall/The Guardian Illustration: Jamie

Wignall/The Guardian Miles Brignall Samuel Gibbs, Sandra Haurant, Rupert Jones, Sarah Marsh and Hilary Osborne 2024-01-08T08:00:03Z UK savers urged to act quickly for highest-paying

fixed-rate accounts https://www.theguardian.com/money/2023/dec/29/uk-savers-highest-paying-fixed-rate-accounts

Bank of England forecast to make as many as four interest rate cuts in 2024, which will slash returns

If Christmas hasn’t cleaned you out financially, now could be the last chance to grab one of the UK’s highest-paying fixed-rate savings accounts.

With the money markets convinced that interest rates are heading on a downward trajectory, the smart savings cash is heading for a fixed-rate bond – while rates above 5% are still

available.

societies UK news Interest rates Bank of England Business Fri, 29 Dec 2023 07:00:02 GMT https://www.theguardian.com/money/2023/dec/29/uk-savers-highest-paying-fixed-rate-accounts Photograph:

Maureen McLean/Shutterstock Photograph: Maureen McLean/Shutterstock Miles Brignall 2023-12-29T07:00:02Z How to make the most of your cash savings in the UK

https://www.theguardian.com/money/2023/dec/18/how-to-make-the-most-of-your-cash-savings-in-the-uk

With interest rates on the up, your money can earn more – but only if it is held in the right account

Increases in interest rates mean that your savings can earn more for you than they have for many years – but only if you make sure your cash is held in the right accounts. A lot of people

don’t; according to the Financial Conduct Authority, in July this year, £260bn was sitting in accounts paying 1% or less in interest. “Don’t just accept what your high street bank is

offering,” says Anna Bowes, the co-founder of Savings Champion. Instead, take action to get the most from your money.

href="https://www.theguardian.com/money/2023/dec/18/how-to-make-the-most-of-your-cash-savings-in-the-uk">Continue reading... Savings Savings rates Money Banks and building societies Isas

UK news Mon, 18 Dec 2023 07:00:50 GMT https://www.theguardian.com/money/2023/dec/18/how-to-make-the-most-of-your-cash-savings-in-the-uk Illustration: Jamie Wignall/The Guardian

Illustration: Jamie Wignall/The Guardian Sandra Haurant 2023-12-18T07:00:50Z UK savers urged to act quickly for best returns as rates drop

https://www.theguardian.com/money/2023/nov/18/uk-savers-urged-to-act-quickly-for-best-returns-as-rates-drop

NS&I, Shawbrook and Tandem among providers to make reductions amid flurry of such moves

Savers have been urged to act quickly if they want to get the best returns on their money after a flurry of interest rate cuts on top-paying accounts.

This week NS&I reduced the rate it offers on its three-year green bonds from 5.7% to 3.95%, while Shawbrook, Tandem and Ford Money were among other providers making cuts.

href="https://www.theguardian.com/money/2023/nov/18/uk-savers-urged-to-act-quickly-for-best-returns-as-rates-drop">Continue reading... Savings rates Savings Money Banks and building

societies UK news Interest rates Business Banking Sat, 18 Nov 2023 07:00:14 GMT https://www.theguardian.com/money/2023/nov/18/uk-savers-urged-to-act-quickly-for-best-returns-as-rates-drop

Photograph: Dominic Lipinski/PA Photograph: Dominic Lipinski/PA Hilary Osborne 2023-11-18T07:00:14Z Cash Isas back in fashion as interest rates rise to 5%-plus

https://www.theguardian.com/money/2023/nov/11/cash-isas-interest-rates-savings-tax-free

More savers look set to turn to products that allow them to accumulate cash tax-free

Rising interest rates have been good news for savers – but there’s a potential sting in the tail if you have a few thousand pounds tucked away. As Guardian Money

href="https://www.theguardian.com/money/2023/nov/04/dont-get-caught-out-by-tax-on-cash-interest-uk-savers-told">warned last week, while until recently few of us needed to worry about

breaching the savings tax allowance, there’s now a chance that you could face a bill on your returns.

It all means that suddenly, after several years out of fashion, cash Isas look like a good idea.

href="https://www.theguardian.com/money/2023/nov/11/cash-isas-interest-rates-savings-tax-free">Continue reading... Cash Isas Isas Savings Money Savings rates Banks and building societies

UK news Interest rates HMRC Sat, 11 Nov 2023 07:00:28 GMT https://www.theguardian.com/money/2023/nov/11/cash-isas-interest-rates-savings-tax-free Photograph: Roy Conchie/Alamy Photograph:

Roy Conchie/Alamy Hilary Osborne 2023-11-11T07:00:28Z Should my bonus go on overpaying the mortgage or into a high-interest savings account?

https://www.theguardian.com/money/2023/nov/06/should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account

Fixed-rate part of deal ends in August and I’m worried about interest rate rises

href="https://www.theguardian.com/money/2023/nov/03/dont-get-caught-out-by-tax-on-cash-interest-uk-savers-told">Don’t get caught out by tax on cash interest, UK savers told

Q Our mortgage is split into two parts, as we ported a section of our original mortgage when we moved in 2021. The 2.5% fixed-rate part of the mortgage (on a balance of

approximately £210,000) is coming to an end next August.

I’m incredibly worried about the possible interest rate rise when we have to renew. We have already absorbed a £300 hit when we renewed the other part of the mortgage last year, and I’m not

sure how we would cope if our bill rose by the same again – but looking at the current rates, that may well be what we’re faced with.

href="https://www.theguardian.com/money/2023/nov/06/should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account">Continue reading... Mortgages Mortgage rates

Money Property UK news Savings Savings rates Mon, 06 Nov 2023 07:00:30 GMT

https://www.theguardian.com/money/2023/nov/06/should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account Photograph: Yui Mok/PA Photograph: Yui Mok/PA Virginia

Wallis 2023-11-06T07:00:30Z As the Bank of England puts rate rises on hold, what are the ups … and the downs?

https://www.theguardian.com/business/2023/nov/05/as-the-bank-of-england-puts-rate-rises-on-hold-what-are-the-ups-and-the-downs

Interest rates appear to have finally peaked. Mortgage holders may be expecting relief and savers disappointment, but what do the experts think?

With Britain appearing to have hit peak interest rates, homeowners and buyers may feel like celebrating, while savers will be shaking their heads.

The Bank of England’s decision to hold rates at 5.25% for a second time came after 14 increases. So what does this mean for consumers? Are we likely to see more affordable mortgage deals?

And can we no longer expect bumper savings rates from the banks?

href="https://www.theguardian.com/business/2023/nov/05/as-the-bank-of-england-puts-rate-rises-on-hold-what-are-the-ups-and-the-downs">Continue reading... Interest rates Mortgage rates

Money Pensions Banks and building societies Mortgages Savings rates Savings Sun, 05 Nov 2023 09:00:03 GMT

https://www.theguardian.com/business/2023/nov/05/as-the-bank-of-england-puts-rate-rises-on-hold-what-are-the-ups-and-the-downs Photograph: Neil Hall/EPA Photograph: Neil Hall/EPA Shane

Hickey 2023-11-05T09:00:03Z Don’t get caught out by tax on cash interest, UK savers told

https://www.theguardian.com/money/2023/nov/04/dont-get-caught-out-by-tax-on-cash-interest-uk-savers-told

Higher interest rates and move away from cash isas means hundreds of thousands more people may be hit

Higher interest rates look set to land hundreds of thousands more people with an unwelcome tax bill for their savings, a financial advice firm warned this week.

A couple of years ago it was typically only the wealthiest with very big nest eggs who had to pay tax on their savings interest – but now someone with an emergency savings pot of about

£8,000 could find themselves falling foul of this little-known tax trap.

Continue reading... Savings Tax Savings rates Money Banks and building

societies Interest rates UK news Consumer affairs Cash Isas Isas Sat, 04 Nov 2023 07:00:34 GMT

https://www.theguardian.com/money/2023/nov/04/dont-get-caught-out-by-tax-on-cash-interest-uk-savers-told Photograph: georgeclerk/Getty Images/iStockphoto Photograph: georgeclerk/Getty

Images/iStockphoto Rupert Jones 2023-11-04T07:00:34Z