Britons are relived following the news that the Bank of England has opted to cut the UK’s base rate from its 16-year high of 5.25 per cent to five per cent. Mortgage holders and debt borrowers have been saddled with skyrocketing monthly repayments in the central bank’s fight against inflation but savers have benefited. However, the era of record high savings rates is likely coming to an end if recent moves from high street banks and building societies are any indicator. Major lenders, including NatWest, Nationwide Building Society and Barclays, are in the midst of a mortgage price war with rat…
