Banking Rates: Five-year fixed mortgage rate nudges over 6%

Sky News published this video item, entitled “Banking Rates: Five-year fixed mortgage rate nudges over 6%” – below is their description.

The average five-year fixed mortgage rate has risen above 6%, new figures have revealed.

The last time rates were this high was November 21 last year, following turmoil sparked by the mini-budget in September.

The Financial Conduct Authority (FCA) expects chief executives from HSBC, NatWest, Lloyds, and Barclays to attend on Thursday amid allegations of “blatant profiteering”.

It comes as the Treasury Committee of MPs said it had written to the chief executives to demand that savers are fairly rewarded.

#mortage #savings #skynews

Sky News YouTube Channel

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About This Source - Sky News

Sky News is a British free-to-air television news channel and organisation. Sky News is distributed via a radio news service, and through online channels. It is owned by Sky Group, a division of Comcast. John Ryley is the head of Sky News, a role he has held since June 2006.

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In This Story: Barclays

Barclays plc is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services.

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Barclays traces its origins to the goldsmith banking business established in the City of London in 1690.

 

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The Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry.

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In This Story: NatWest

National Westminster Bank, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020.

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