In the News

Market and Regulatory Failure - Are Big Banks Short-Changing Customers?

Graham Watson

3rd December 2022

It seems that UK mortgage lenders were quick to hike two-year fixed rate mortgage rates in the aftermath of the mini-Budget, but that since then, as money market swap rates have fallen back, mortgage rates have remained resolutely high. And yet, at the same time, little has changed for savers who haven't seen a significant rise in interest rates on their savings.

So are regulators going to intervene? This looks like an abuse of market power - and all the more reason why the decision not to increase taxes on the sector in the Autumn Statement look ill-advised.

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