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Recently, Steven, 57, wrote to Express Money for further guidance on a securing a mortgage. In the latest instalment of Money Talk, Matt Coulson from Heron Financial, Kevin Roberts from Legal & General Mortgage Club and Katie Brain from Defaqto were all on hand to offer suggestions on mortgages. Steven asked: “Hello. I would like some advice on mortgages please. I’d like to find the best deals for over 55s, or am I too old to be considering this at 57?”
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Interest rates took a tumble as a result of the Bank of England’s decision to lower its base rate in March 2020 to 0.1 percent. Many familiar providers followed suit, making it a challenge for those who were hoping to grow their money. As the challenging situation continues for savers, speculation has mounted about the potential for negative interest rates.
| UPDATED: 22:26, Wed, Mar 10, 2021
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Interest rates have been impacted by the Bank of England’s decision in March 2020 to reduce its base rate to 0.1 percent, which had a knock-on effect for familiar providers. As a result, it has been difficult for savers to secure a satisfactory rate to help grow their funds. However, for those who are still looking to put money away - looking for the best interest rates in the UK will be important.