Jump to main content of pageaccessibility informationSitemap
28 Mar 2024
Compare Mortgages Compare Life Insurance Compare Remortgages

News

Savers benefit from the liquidity crisis as fixed rates rise again

Andrew Hagger, Head of News and Press at Moneyfacts.co.uk, the money search engine comments on the recent increase in short-term savings rates.

It seems that some institutions had almost pre-empted the recommendations issued by the FSA yesterday and are already assessing their funding and liquidity positions. As a result they are already attempting to bring in more funds through deposits.

We have seen the most dramatic change happen in the shorter term fixed rate market, further adding to speculation that the institutions are hoping to build up their funds.

In the following list of the most recent changes in short-term fixed rate savings deals we can see some of the larger players in the mortgage market. Providers such as Standard Life Bank, who currently have 175 mortgage products on offer and Birmingham Midshires Solutions who offer 74 mortgage products stand out as having good reason to trying to attract savers.

As well as providing funds for the lenders this is also as excellent opportunity for savers to bag themselves an outstanding deal. But hurry, these kinds of deals don’t last.

Institution

Product Name

Term

New Rate
Gross at £1K

Old Rate
Gross at £1K

With effect from date

Birmingham
Midshires

Fixed Rate Bond

3 Month

6.80%

6.54%

5.12.07

Icesave

Fixed Rate Savings

6 Month

6.65%

N/A

5.12.07

National Counties BS

Savings Bond 20th Issue

6 Month

6.91%

N/A

10.12.07

Standard Life Bank

Fixed Rate Bond

26.6.08

6.80%

6.75%

26.11.07

            Source: Moneyfacts.co.uk - the money search engine          Rates correct as at 5.12.07.

Savings rates

About The Moneyfacts Group

Moneyfacts is recognised as the UK’s leading provider of independent personal finance information. For the last 20 years, Moneyfacts’ information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £349