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Martin Lewis: 鈥榌The Banks] need to come to the public鈥檚 aid鈥�
Martin Lewis urges banks to not increase their profit margins, as interest rates rise for the 13th time in a row.
According to the IFS, these rises could mean 1.4 million mortgage holders could lose a fifth of their disposable income - 鈥渢imes are difficult for the public right now,鈥� Martin said.
He told 5 Live鈥檚 Nihal Arthanayake, 鈥淸banks] are making increased profits, that is wrong鈥� they need to come to the public鈥檚 aid鈥�.
Martin suggested banks should 鈥渦p interest rates for savers鈥� and put money aside for forbearance.
Listen to the Martin Lewis podcast on 麻豆社 Sounds.
