We don't like holding back the rise

We don't like it when mortgage rates go up and savings rates stay down. The Bank of England raised its interest rates last week by a quarter of a point.

But there are still lots of high street banks and building societies which have not passed this increase on to savers. Funnily enough, most of the banks and building societies were quick to pass on increases in the variable rate mortgages. Barclays mortgage lending arm, the Woolwich, has already increased its loan rates by 0.25%.

Barclays savers have yet to witness such a change. Lloyds TSB has also employed this tactic. HSBC has passed on the full quarter of a point rise to its mortgage customers, but only raised rates by 0.1% for savers. Natwest has raised savings rates by 0.25%.