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Lou G

Building Society Reduces Savings Rate To 4.2%

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I have just received a letter from the our building society informing us that they are pulling its higher interest rate products off the market including our account at .25% above the base rate. We are now forced to take up an account at only 4.2% Gross. They say it is due to medium range forecasts for interest rate drops next year!

Do they know something we don't????

Lou..

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I have just received a letter from the our building society informing us that they are pulling its higher interest rate products off the market including our account at .25% above the base rate. We are now forced to take up an account at only 4.2% Gross. They say it is due to medium range forecasts for interest rate drops next year!

Do they know something we don't????

Lou..

Yes, they need to cover themselves for bad debts, so they are increasing the difference between lending and saving rates. Switch to the B&B, still at 4.85% or cahoot's 5.25% (for 6 months).

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Yes, they need to cover themselves for bad debts, so they are increasing the difference between lending and saving rates. Switch to the B&B, still at 4.85% or cahoot's 5.25% (for 6 months).

Thanks, will do.

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  • 339 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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