“The Bank of England’s attempts to steal the budget limelight will be welcome news for those looking to buy a home with the help of attractive mortgage rates, as well as delivering a boost to the overall spending health of the economy.
However, for the many investors with their money piled into ‘cash’, the poor returns seen over the last decade look set to continue. This has already led to many pulling their funds in search of pastures greener and this has resulted in an increase in the popularity of alternative investment channels such as the Innovative Finance ISA.
With these alternative platforms offering annual returns far greater than any traditional saving or investment options, this trend is sure to continue with the latest cut in rates.”
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