Commenting on the Daily Mail’s article about the drop in Help to Buy Isa interest rates over the summer, Tashema Jackson, money expert at Uswitch.com said, “Dwindling returns on Help to Buy Isas are a slap in the face for first time buyers trying to save for a deposit. Savers have been lured in by tempting headline rates only to see them slashed a few months later. What’s more disappointing is that while the Bank of England cut its base rate by just 0.25%, most providers have cut their rates by significantly more than this – up to 2.5% in some cases. This shows just how challenging life can be for savers right now.
“However, despite the steep cuts to Help to Buy Isa rates, they still offer some of the best returns for savers. In light of this, consumers looking to save should make sure to compare all available options, including high interest current accounts, to make sure they’re getting the best possible return for their money.”
FOR MORE INFORMATION
Rory Stoves
Phone: 020 3872 5613
Email: rory.stoves@uswitch.com
Twitter: @UswitchPR
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