Have ANY Savings accounts yet been improved by 0.25% in;line with BoE Rate hike?

[Zak33]

Has anyone seen anything solid, substantial or definate yet on any Savings Accounts going up by anything related to last weeks Bank of England ratre hike?

I know I'm being naive, BUT this was a chance.. a slim slim chance for someone to get some punters behind them

[ik9000]

fat.....

chance.

[Phage]

Hahahahahaha.......(gasp) hohohoho

[Zak33]

seriously.... someone much have gained something.

OK... which banks HAVE INCREASED MORTGAGE rates since then?

[stevie lee]

skipton - http://www.skipton.co.uk/base-rate-change

Standard Variable Rate and Mortgage Variable Rate will not increase as a result of today’s base rate announcement
Increase to be passed on in full to all on-sale variable savings accounts
By the 5 December all on-sale and off-sale variable rate savings accounts will pay 0.50% or more
Lifetime Cash ISA to increase to 0.75% tax-free/AER variable.

from 5th December.

not checked anywhere else yet.

[Phage]

Mine - Woolwich from December as above

[Zak33]

2 two lenders up and zero savers

i am genuinely a tiny bit surprised.. the brownie points available across the ENTIRE NATION from the saving generation are still sat doing nothing.....

[Gerrard]

From what I remember reading, banks still have easy access to BoE loans (or from somewhere else) at low rates, so have no need to compete against each other for savers. However that is suppose to end next year at some point, so that might help.

[jim]

The rates have been creeping higher over the last few months - I suspect this will give them the impetus to continue.

[Bagnaj97]

seriously.... someone much have gained something.

OK... which banks HAVE INCREASED MORTGAGE rates since then?

https://www.moneysavingexpert.com/ne...-know-#savings
That link has tables for all the known changes to savings and mortgage rates as of a couple of days ago. Lots of mortgage increases, meanwhile savings are mostly "under review," but there have been a few increases.

I'm expecting a letter from HSBC any day now telling me how much more they're robbing from me each month...

[Saracen]

It always has been the case that banks tend to raise lending rates quickly and savings rates slowly (if at all) in response to base rate increases, and conversely, drop savings rates quickly and mortgage rates slowly in response to rate falls.

The cynic in me wonders what else I should expect, but in reality, while theres some truth in that, the reality is that the relationship between BofE base rates and commercial rates, be they borrowing or lending, is not linear, and nowhere near that direct. In fact commercial rates depend on a blend of complex factors ranging from perceived risk, personal circumstances, bank policy in relation to market sector, the state of the resources available to a given product, an assessment of a range of economic factors, political stability, and so on.

Put it this way. The relationship between base and commercial rates, connecting them, is not a steel rod, and never has been. Even in normal times, it's more like a soft rubber stick, and right now, it's like worn-out knicker elastic. i.e. very loose indeed.

[ik9000]

Even in normal times, it's more like a soft rubber stick, and right now, it's like worn-out knicker elastic. i.e. very loose indeed.