The year of the Bank of England Base Rate being held at a record low of 0.5% has created both winners and losers, moneysupermarket.com claims.

Hannah-Mercedes Skenfield, mortgage spokesperson at moneysupermarket.com, said: “Undoubtedly the biggest winners from the fall in interest rates have been those consumers who have been sat on standard variable rates (SVRs). Traditionally lenders’ SVRs have usually been higher than the deal that was ending so consumers would have to remortgage as a result. Now we have a situation where many consumers are sitting on extremely low rates and have no incentive to move. We have started to see SVRs starting to increase again