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This week one of my ISA providers informed me that the interest on my ISA will be reduced from 1.79 per cent to 1.28 per cent in November; a year ago it was 2.28 per cent.

So it is ironic that I read: “Relief for families as threat of interest rate rise recedes” (your report, 20 August). I hope mortgage holders appreciate that while low rates are fine for them, savers suffer.

I only hope that they have been paying back their mortgage as if the interest rate was higher. This would mean the capital owed would be reducing and when interest rates do go up they will not have as much to repay.

I would love to boost the economy by spending more money but I cannot do that while my income is reduced.

One thing I am determined to do is to not spend capital because once it is gone it is near impossible to recover.

I just have to wait until interest rates rise.

Stanley McWhirter

Balcarres Street

Edinburgh

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