Mortgages are going up, why aren’t savings?
July 9, 2023
21 min
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211 of 1,000
July 9, 2023
Mortgages are going up, why aren’t savings?
0:00 / 21:44
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Sky News Episodes Around July 9, 2023
Episode 211 of 1,000 — walk the feed in the order it was published.
21:44This episodeMortgages are going up, why aren’t savings?
Summary
Heads of the UK’s biggest banks have been summoned by the UK's financial watchdog over concerns interest rates on savings are too low. <br /> <br />Higher Bank of England interest rates have led banks to put up mortgage costs , but savings rates are not rising as fast – a situation the Chancellor, Jeremy Hunt has said ‘needs resolving’. <br /> <br />On the Sky News Daily, Sally Lockwood is joined by Sky’s business correspondent Paul Kelso, and Danni Hewson, Head of Financial Analysis at AJ Bell to find out what the rate disparity means for you, and if anything is likely to change any time soon. <br /><br />Podcast producer: Rosie Gillott <br />Interviews producer: Alex Edden <br />Editor: Paul Stanworth
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