Is This The End of Low Mortgage Interest Rates
Published / Last Updated on 09/01/2020
The FCA is introducing the Single Easy Access Rate (SEAR) a standard minimum interest rate of savings similar to a Standard Variable Rate on mortgages.
In addition, Banks and Building Societies are under pressure anyway to have enough capital adequacy in the event of another credit crunch.
Finally, limited access to business from Europe in the event of a 'no deal' or poor deal Brexit, banks will have an even greater squeeze on profits.
We suggest this will impact with banks offering higher mortgage interest rates.
