Negotiation, Negotiation, Negotiation

UK Property Investment news and comments from Mark Harrison of YourPropertyExpert.com

Silver Lining for Savers (article by Matthew Bretherton)

Posted by markharrison on July 31, 2008

Matthew Bretherton has written a good new article at money.co.uk about who is gaining from the credit conditions.
He points out that the growing spread between base rates and actual rates cuts both ways:

…the interest banks are prepared to pay out on savings accounts are 1.3% higher than the last time the Bank of England base rate was at 5% (in December 2006)…

He also points out that the result is increased savings, which, because of the Basel II rules (forthcoming blog post), might spell some good news for borrowers.

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