Video: What The UK Interest Rate Rise Means For You
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Chris Leyland is the Deputy Chief Investment Officer at True Potential Investor. Here he explains the UK interest rate rise and what it means for you.
Key points include…
- Mortgage providers have passed on the higher costs to the UK public with a homeowner with a £150,000 standard variable rate mortgage seeing repayments go up by £21 a month on average.
- For savers, many providers have still not passed on the higher interest rates meaning rates on cash account and cash ISAs are still at incredibly low levels. In fact, even if the full 25bps was passed on, rates would still be at incredibly depressed levels.
- For customers looking for a higher income, we offer our True Potential Portfolios, Cautious and Balanced Income. Both yield just under 4% and pay their income to clients monthly. This is a way for an investor who would like to invest into stock markets to receive a solid income.
Watch the full video