Interest rates continue to rise but savers ‘unlikely to see any large increase overnight’ | Personal Finance | Finance


“Therefore, it would be wise to diversify your funds in order to get the best of both worlds; keeping an emergency fund in an easy-access account to ensure simple last-minute withdrawals if needed, while moving the rest to the top-rated fixed-rate savings account to best benefit from high interest on your savings.”

However, Ms O’Brien notes that those with a mortgage on a fixed-rate which is coming to an end this year will be at a severe disadvantage.

With the Bank of England likely to raise the base rate even further in the months ahead, she also shared advice on homeowners looking to lessen the eventual blow of higher mortgages.



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