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The Masked Tulip

Bankers' Bonuses Are Alive And Well In Wales (At The Principality Building Society)

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Bankers' bonuses are alive and well in Wales (at the Principality Building Society)

The society’s instant access account pays just 0.10% gross, even if you deposit more than £50,000. That means you get £50 interest on your 50 grand in a year.

That’s quite a reduction from the £3,000 you could have got pre-credit crunch.

“In the current climate, where lending rates have dropped to a historically low level … higher savings rates would mean uncompetitive, unaffordable lending rates.”

Sorry, but that doesn’t wash.

Yes, the Bank of England’s base lending rate is historically low at 0.5%.

But the Principality’s standard variable rate for mortgages is 4.99%. Not historically low by any standards.

The spread between what they are charging borrowers and what they pay out to instant access savers is 4.89%. That’s a whopping differential.

The richest 10 per cent of the population are 100 times wealthier than the poorest 10 per cent.

While the bankers are buying second, third and even fourth homes with their loot, the rest of us are taking pay cuts or losing our jobs.

http://www.gogwatch.com/2011/03/23/bankers-bonuses-are-alive-and-well-in-wales-at-the-principality-building-society/

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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