According to Moneyfactscompare.co.uk, 70% of savings providers have already cut the rates they are offering since the start of 2026, including variable and fixed-rate deals. Rachel Springall, a finance expert at Moneyfactscompare.co.uk, said: “The slaughter of savings rates will sadden hard-pressed savers. The average easy access Isa rate on the market was 2.60% at the start of February, down from 3.06% in the same month last year. Ms Springall added: “The demise of savings rates is clear for those who prefer to have quick access to their cash. Mr Mendes added: “A hold does not close the door on lower mortgage rates.

Source: The Times February 05, 2026 12:50 UTC