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Fintech Insider Podcast by 11:FS

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The Gap Between Mortgage and Savings Rates

The gap between UK mortgage and savings rates is growing as high street banks fail to pass on interest rate rises. Not one of Britain's nine biggest banks in building societies has raised its easy access savings rates to match the Bank of England's bank rate since December, according to data from Money Facts. HSBC has been the slowest to pass on rising interest rates to its mortgage borrowers,. Having bumped its standard variable rate by only 1 percentage points since December. Mortgage borrowers pay 4.54% now, the lowest rate.

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