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What would negative interest rates mean for you?


There was big news for borrowers this week as the FCA announced a proposal to extend the mortgage payment holiday for borrowers whose finances have been impacted by Covid-19. The aim is to help mortgage holders who may need help in the coming months, and perhaps don’t realise it yet, along with offering the possibility of a further temporary extension until 31st October for those already deferring mortgage payments.

The above shows that we are in unprecedented times as does the fact that on Wednesday the UK issued government bonds with negative yields for the first time ever. That means people are now paying the UK to lend it money. Andrew Bailey (the Bank of England Governor) also hinted this week that negative interest rates could soon become a reality. Which means that high street banks would have to pay to deposit money with the Bank of England. But what would a negative base rate mean for mortgage borrowers and savers? I answer this very question on this week's podcast so be sure to listen below.
Enjoy this week's newsletter.

Damien Fahy
MoneytotheMasses.com founder




Damien Fahy & MoneytotheMasses are regularly quoted in the national press including
Money to the Masses Podcast
Episode 272 - On this week's show I explain why investors should key an eye on individual equity sectors and not just the headline indices. Plus I tell you a quick and easy way to do this. I also explain what we can learn from goalkeepers that will make us better investors. Finally, I discuss the potential for negative interest rates in the UK and what it means for mortgage borrowers and savers.
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Damien's Midweek Markets Podcast
Episode 62 - The latest episode of my DIY investment podcast where I discuss what is happening in investment markets. This week I talk about the critical levels to watch on both the US and UK stock markets.
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