In the interview below, Simon gives his view on the rates being offered, before highlighting the key trends which he sees shaping the market over the next 12 months.
"The rates available to ISA customers this past year are a little bit lower than they have been in the past," he comments. "The UK ISA market remains highly competitive and it provides a great way for consumers to save tax free and make the most of their savings."
But, Simon goes on to warn against waiting for an increase in rates before investing, stating:
"I'd expect a gradual increase in rates, probably from the start of new year and onwards."
Simon's comments echo the thoughts from by Anna Bowes, director of savingschampion.co.uk. Speaking to the Guardian this week, she commented:
"ISA savers tempted to wait to see if better rates come around are warned that such a tactic could see them lose out. If you have got money, put it in now or, as we've seen in previous tax years, you could procrastinate for months and then end up waiting for a better rate that never arrives."
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