Banks Huge Profits are back.

08 Oct Banks Huge Profits are back.

Great news – for the banks.

As they start to publish their figures for the first half of 2010 it seems they are all back in the black. The upcry this week will be over the fact this is simply not being passed onto businesses or the consumer.

In 2007 you could get a mortgage below Bank of England Base Rate with a 10% deposit. Today the very best rates are 2% over Bank of England Base Rate – if you have a 40% deposit.