Sunday, July 7, 2013
Something we already know
"The Funding for Lending scheme is having a punishing effect on savings rates. Returns are falling across the board as banks and building societies find that because of the cheap money coming from Funding for Lending they have little need for savers' deposits." Research for The Independent on Sunday indicates that the Funding for Lending scheme is no longer having the desired effect of boosting availability of mortgages.