www.gfmreview.com
Open in
urlscan Pro
176.58.114.56
Public Scan
Submitted URL: https://tvrq-zcmp.maillist-manage.eu/click/11d9aa619106d5f2/11d9aa619106f90f
Effective URL: https://www.gfmreview.com/breaking/uk-inflation-eases-to-bring-some-festive-cheer?utm_source=ZohoCampaigns&utm_campaign=Ne...
Submission: On December 21 via api from ES — Scanned from NL
Effective URL: https://www.gfmreview.com/breaking/uk-inflation-eases-to-bring-some-festive-cheer?utm_source=ZohoCampaigns&utm_campaign=Ne...
Submission: On December 21 via api from ES — Scanned from NL
Form analysis
1 forms found in the DOMGET https://www.gfmreview.com/search
<form method="GET" action="https://www.gfmreview.com/search">
<div class="input-group">
<input type="hidden" name="_token" value="uWTD605JptknpPiSawwrUHXfb4R5t9Bfzxk0An6t">
<input type="text" name="keyword" class="form-control" placeholder="Type here to search..." aria-describedby="basic-addon1">
<span class="input-group-btn">
<button class="btn btn-primary" type="submit"><i class="fa fa-search" aria-hidden="true"></i> Search</button>
</span>
</div>
</form>
Text Content
Toggle navigation * Home * InFocus * InFocus Expat * InFocus Pension * InFocus U.A.E. * InFocus Vietnam * InFocus Hong Kong * Events * Nominations 2024 * About Us * Awards * Press Release * Publish With Us InFocus * Home * InFocus * Events * Nominations 2024 * About Us * Awards * Press Release * Publish With Us News Sections * Banking * Breaking * Markets * Forex * Insurance * Commodities * Hedge Fund * FinTech * Travel * Expat * Newsletter * Home * InFocus * InFocus Expat * InFocus Pension * InFocus U.A.E. * InFocus Vietnam * InFocus Hong Kong * Events * Nominations 2024 * About Us * Awards * Press Release * Publish With Us * Banking * Breaking * Markets * Forex * Insurance * Commodities * Hedge Fund * FinTech * Travel * Expat * Newsletter More Sections * FinTech * Travel * Expat * Newsletter * Islamic Finance * Tech * World 1. Home 2. Breaking UK INFLATION EASES TO BRING SOME FESTIVE CHEER * Share * Copy Link * Facebook * X * LinkedIn Thursday December 21, 2023. By Brett Hurll Examining the Impact of Latest ONS Inflation Data on Personal Finance The most recent Consumer Price Inflation (CPI) statistic, marking a decrease to 4.2% since October 2021, spells promising news for homeowners in the UK. This development suggests a continued downward trend in fixed mortgage rates as we enter the new year. However, the situation presents a varied outlook for savers: while some may rejoice at their savings retaining greater value, others might rue missing out on previously higher interest rates which are now expected to decline. Mortgages Mortgage rates in the UK are closely tied to the Bank of England's base rate, which itself is influenced significantly by inflation trends. Despite a steady increase from a historic low of 0.1% in December 2021, the base rate has remained at 5.25% since August. Approximately 80% of homeowners currently benefit from fixed rates, which are set based on financial analysts' projections of future Bank rates. There is a growing consensus that these rates might begin to decrease in the coming year. Recent figures indicate a positive shift, with the most affordable two-year fixed mortgage now offered by Virgin Money at 4.59%, a reduction from 5.96% in early August. Similarly, Barclays presents a five-year fixed rate at 4.32%, down from 5.28% four months prior. These rates are expected to drop further following the latest inflation data, although this may take several weeks to materialize, partly due to the holiday season. This trend is likely to ease the burden for the 1.6 million homeowners who will transition from their fixed deals next year, many of whom secured rates below 2.5%. Mortgage brokers currently hold mixed views regarding the extent to which fixed mortgage rates might fall before an official cut in the base rate. Notably, Barclays has already reduced its rates by up to 0.43 percentage points this week. Rob Gill from Altura Mortgage Finance anticipates other banks will follow this lead, suggesting that rates beginning with 'three' could become more common as lenders aim for a strong start in 2024. Homeowners with mortgage deals ending within the next six months can secure a new rate now, with the flexibility to switch if a better offer arises. Savings The decline in inflation is a mixed blessing for savers. The positive aspect is the potential for real-term returns on savings for the first time in two years. For instance, those who opted for fixed-rate bonds in November last year – with the best one-year deal at 4.6%, two-year at 5%, and five-year at 5.05% – are now seeing actual earnings post-inflation. However, the backdrop has been challenging for savers, with the CPI inflation rate previously hitting double digits and only dropping to 6.7% for the year to September. October's figure stood at 4.6%. With the Bank rate currently at 5.25% and anticipated to decrease next year, savings rates have been declining. According to Savings Champion, the best easy-access account rate decreased from 5.25% at the end of October to 5.22% from Metro Bank recently. The top one-year fixed bond rate has also dipped from 6.11% to 5.66%, again offered by Metro Bank. Savers should anticipate this downward trend to persist, especially in light of the recent inflation data influencing market expectations of interest rates. Therefore, seizing a savings account with an attractive rate is advisable, given that account setup typically takes around 15 minutes – a worthwhile investment of time. RECENT NEWS A POSSIBLE MARRIAGE MADE FROM THE COST STREAMING Thursday December 21, 2023. By Brett Hurll In a significant development within the media industry, Warner Bros Discovery and Paramount Global h... Read more AI IN 2024 BY STANFORD Wednesday December 20, 2023. As we approach 2024, the landscape of Artificial Intelligence (AI) is rapidly evolving, presenting new challenges and op... Read more THE MIRAGE OF GOOGLES GEMINI AI: A CAUTIONARY TALE FOR THE FINANCIAL WORLD Wednesday December 13, 2023. In the relentless pursuit of innovation, companies often strive to showcase their technological prowess. However, Google... Read more META AND IBM ANNOUCE AI ALLIANCE Tuesday December 12, 2023. By Brett Hurll In a groundbreaking move, Meta and IBM have spearheaded the formation of an AI Alliance, a conglome... Read more CHRISTMAS IS NOT WHAT IT ONCE WAS AT HASBRO AS 1,100 POSITIONS ARE TO BE AXED AMIDST A DIP IN TOY SALES Tuesday December 12, 2023. By Brett Hurll Hasbro, the renowned producer of Transformers figurines, Dungeons & Dragons, and Monopoly, i... Read more THE DECLINE OF GREAT BRITAIN: CAN THE UK ECONOMY RENAISSANCE? Thursday December 07, 2023. The United Kingdom once stood as an economic powerhouse, the envy of the world. But over recent decades, a concerning tr... Read more Search latest press release Monday Dec 11, 2023 GFM Review announces winners of its prestigious industry awards for the Mid-December 2023 Monday Dec 04, 2023 GFM Review announces winners of its prestigious industry awards for the Early December 2023 Sunday Nov 26, 2023 GFM Review announces winners of its prestigious industry awards for the November-end 2023 Monday Nov 20, 2023 GFM Review announces winners of its prestigious industry awards for the 3rd Week of November 2023 Monday Nov 13, 2023 GFM Review announces winners of its prestigious industry awards for Mid-November 2023 Monday Nov 06, 2023 GFM Review announces winners of its prestigious industry awards for Early November 2023 Read More Email: enquiries@gfmreview.com Send us a message NAVIGATION * Homepage * Press Release * Awards * Nominations 2024 * About Us * About Awards MEDIA COVERAGE * Submit Articles * Media Coverage T & C * Terms of Use * Contact Us * Blog FOLLOW US * Facebook * X * Instagram * LinkedIn * Youtube Copyright © 2023 Global Financial | All Rights Reserved Privacy Policy - Cookie Policy - Sitemap GFM REVIEW ...Nominations for the GFM Review International 2023 Awards are now open for Banking, FX & Broker, FinTech, Business Travel, Financial Services, Business Tech & Services. Be recognised in your sector by one of the largest* online financial news aggregators - 15.6m Unique Visitors, 140,000,000 Page Views, 1m Twitter Followers, top 1500 Global Twitter Profiles, top 20,000 Global Website*...Simply click on the Nomination Button to enter... Nominations 2024 We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy. Dont show this message again We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy. Dont show this message again