Which Bank has the highest interest rate in the UK?

Government should not allow any Banks to take more than 50% of standard basic rate of interest?

• Mortgages are very huge amounts. they are not just 1000 or 1000 pounds, The basic interest rate of Bank of England is 0.5%. Then, Government should not allow any Banks to make profit of more than 50% of the basic interest, which can be a maximum of 1%. This 1% interest is for a huge amount of mortgage more than 100,000 per household. Then how much money they are cheating from the borrowers of uk public every year, which should not be allowed. The banks are charging 1.9% to 3.9% of interest rates when the basic rate is only half percentage. This is ridiculous and a financial abuse to the uk public and should not be tolerated. Nobody shouldnt be paying more than 1% as interest, for their mortgage, which is an essential borrow to live in. This is for the Government to open their eyes and look around to see how they can help uk people out to live healthy and fairly. What you guys says about it

• Answer:

  You are looking only at the side of the Mortgagee. Government is not providing money to give mortgages. Banks has to borrow from the investors to provide for mortgages. No investor would be happy to invest at 0.5% and it is only a guideline and a bank as a borrower has to compete with other banks to secure loans. There are defaulting customers who fail to pay their instalments. Therefore mortgage rates are decided based on market activity.