Katie Horne, banks relationship manager at Flagstone, said: “A base rate hold over the early summer would help sustain a competitive and compelling savings rates market, but it could take further steam out of an already fairly stagnant housing market.
“House price growth slowed to 1.7 per cent in May from three per cent in April and average house prices slid by 0.6 per cent in May.
“Hopeful homebuyers with ready-to-go deposits would be wise to ensure their funds are working hard for them while they wait out the effects of the conflict in the Middle East.
“Leaving deposit funds in a current account or savings account that offers a lower rate of return than the current of rate of inflation is effectively signing your money up to completely avoidable value erosion.
“Higher interest savings accounts are a great way to make sure your deposit funds maintain their value while inflation remains high and you’re waiting to buy.”
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