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The Latest Breaking News from Rachel Springall

Inflation means savers ‘may have lost as much as £113bn over past year in real terms’

Although interest rates have increased, savers have still lost money in real terms due to high inflation, AJ Bell said.

The Independent UK

Average two-year fixed mortgage rate close to surpassing post-mini-budget peak

The typical two-year fixed-rate residential mortgage on the market has reached 6.63%, Moneyfactscompare.co.uk said.

The Independent UK

Boost for savers as building society unveils some market-leading rates

The new deals include a one-year fixed-rate Isa at 5.30% and a two-year fixed-rate Isa at 5.40%.

The Independent UK

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The saver’s dilemma: open an account now, or hope for even higher rates?

With the best-buy tables changing almost by the hour, what’s the best strategy for maximising returns and not missing out?

The Guardian - UK

Average five-year fixed-rate mortgage on the market edges closer to 6%

The typical five-year fixed-rate deal for homeowners is now 5.94%, Moneyfactscompare.co.uk said.

The Independent UK

Mortgage lenders ‘ready to support customers’ as rates jump again

Taking all 13 base rate rises into account, the average monthly tracker mortgage payment will have increased by £464.79, according to UK Finance.

The Independent UK

Santander launches new current account offering up to £30 cashback per month

The launch comes as the bank said its existing 123, Select, and Private current accounts are being removed from sale.

The Independent UK

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Warning over house sales this summer as mortgage rates rise again

Property experts say rising interest rates are continuing to dampen the housing market

Manchester Evening News

Average fixed mortgage rates edge closer to 6% as more deals are hiked

The typical two-year fixed-rate deal was sitting at 5.98% on Friday, Moneyfactscompare.co.uk said.

The Independent UK

Mortgage mayhem explained: Why are rates rising and what should you do now?

Mortgage rates are rising, spelling more misery for millions of homeowners across the country - but why are deals getting more expensive and what should you do next?

Daily Mirror

HSBC pulls mortgage products and Nationwide hikes deals over fears of rate rises

HSBC has removed its "new business" residential and buy-to-let products, while Nationwide increased its fixed rates as well as reducing some rates on trackers

Daily Mirror

Banks set out plans to hike savings rates next week

Savers languishing on poor savings rates have been urged to ditch and switch to find a better deal.

The Independent UK

Almost 800 mortgage deals pulled since last week over fears of more interest rate rises

New data from Moneyfacts shows the number of residential mortgages has fallen from 5,385 deals to 5,012, while buy-to-let deals have dropped from 2,748 to 2,343.

Daily Mirror

Choice of mortgage products shrinks by more than 370 in just over a week

Moneyfactscompare.co.uk counted 5,012 mortgage products available on Tuesday, down from 5,385 on Monday last week

The Independent UK

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The Independent UK

Nationwide increasing some mortgage rates for new borrowing from Friday

The building society said the move will ensure its mortgage rates remain sustainable in the current economic environment.

The Independent UK

Choice of decade-long mortgages has shrunk in past week, says website

The move may influence other lenders to follow suit and reconsider their own deals, Moneyfactscompare.co.uk said.

The Independent UK

Choice of mortgage deals ‘at more than double the level seen last October’

Moneyfacts counted 5,264 options available in May 2023, up from 2,258 in October 2022, when the market was digesting the impact of the mini-budget.

The Independent UK

£5,000 annual increase in the average cost of a mortgage for some borrowers

Over the course of the series of rate hikes taking the base rate from 0.1% to 4.5%, the average monthly tracker mortgage payment has risen by £417.36.

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The Independent UK

New zero-deposit mortgage launched for renters aspiring to be homeowners

The deal from Skipton Building Society will help some of the new generation of home-buyers to ‘get off the rental treadmill’, one expert said.

The Independent UK

Could switching your bank account make you better off right now?

Competition has been ramping up between current account providers – so what are the benefits of switching? By Vicky Shaw.

The Independent UK

Choice of mortgage deals tops 5,000 but some rates have climbed higher

The average standard variable rate is at its highest since February 2008, Moneyfacts said.

The Guardian - UK

Do your homework if you want to grab rising savings rates

Inflation has brought some good news – for savers. But the best deals may not be around for long

The Independent UK

Mortgage approvals to home-buyers increase for first time in six months

Some 43,500 mortgages were approved for house purchase in February, up from 39,600 in January, according to Bank of England figures.

The Independent UK

‘Latest body blow to household finances’ as Bank of England base rate raised

Thursday’s base rate increase will add around £23.71 per month or more than £284 per year to the average tracker mortgage, industry figures show.

The Independent UK

Cash savings rates have improved but still cannot beat inflation, says website

Savers coming off a one-year fixed bond or Isa will notice that the equivalent rates are now much higher, according to Moneyfactscompare.co.uk.

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