mortgage rate and the easy access savings account rate which is what most people have, has gone up, it is about 4%, the gap, when pre this crisis it was a lot less. the banks say they are passing on interest rate rises to savers but the problem is, it tends to be on accounts where you are lock away your money for a year or so. that is not an option for lots of people because it is too big a risk. the financial conduct authority have put a plan together, we could get more news by the end of the month. the bank and building society offering the lowest rates have been given until the end of august to justify themselves and the fca has said they will take further action if they are not satisfied with those explanations. thank you for our with those explanations. thank you for yourtext. with those explanations. thank you for your text, text with those explanations. thank you for your text, text 85058, - with those explanations. thank you for your text, text 85058, joan - with those expl
according to the nationwide building society, prices dropped by 3.8% injuly the fastest annual pace in m years, and the biggest decline sincejuly 2009. nationwide also said mortgage costs hit the highest level for 15 years last month, as lenders grappled with inflation and uncertainty over rates set by the bank of england. a typical two year fixed mortgage rate is now 6.85%. the average price of a home in the uk is £260,828. that is down from a peak in august last year. affordability is a challenge for some buyers but should be welcomed by many first time buyers who had previously struggled to get into the market. let s cross live now to andy russell, who s the ceo of wealthify, a uk based consumer
rising interest rates and lofty inflation is hitting house prices in the uk. according to the nationwide building society, prices dropped by 3.8% injuly the fastest annual pace in ia years, and the biggest decline sincejuly 2009. nationwide also said mortgage costs hit the highest level for 15 years last month, as lenders grappled with inflation and uncertainty over rates set by the bank of england. a typical two year fixed mortgage rate is now 6.85%. the average price of a home in the uk is £260,828. that is down from a peak in august last year. affordability is a challenge for some buyers but should be welcomed by many first time buyers who had previously struggled to get into the market. let s cross live now to andy russell, who s the ceo of wealthify, a uk based consumer
wife s from work, that is it. we live on my wife s saiary~ from work, that is it. we live on my wife s salary. every single bill is rising. wife s salary. every single bill is rising. we wife s salary. every single bill is rising, we can t see anything coming back down rising, we can t see anything coming back down. we can put food in the cupboard. back down. we can put food in the cupboard, food in the fridge, we can do all cupboard, food in the fridge, we can do at! of cupboard, food in the fridge, we can do all of that but nothing up to that do all of that but nothing up to that any do all of that but nothing up to that. any eventuality, any surprise, occasional that. any eventuality, any surprise, occasional event in the family, we cannot occasional event in the family, we cannot be occasional event in the family, we cannot be part of that, we cannot contribute cannot be part of that, we cannot contribute to that. it really is a sacrifice contribute to that