Only providers of financial services are experiencing the benefit of consistently low interest rates.
That is according to Michelle Slade, a spokesperson at Moneyfacts.co.uk, who has claimed that consumers have seen very little benefit from the 0.5 per cent base rate set by the Bank of England.
Among those who have failed to see lower rates are people looking for new mortgage deals and savers.
Pensioners and those who are approaching retirement could be badly hit by the rate freeze, with equity release providing one way of getting some much needed cash in hard times.
Equity release schemes could not only help people to afford day-to-day living expenses during tough economic times, but also family members who may want to put a deposit down on a house but cannot afford to do so in the current climate.
Looking to the future, Ms Slade said that the launch of the sub-two per cent HSBC mortgage deal "will hopefully spur other lenders on to reduce rates and bring much needed competition back to the market".
The Bank of England is due to review its base interest rate later this week. 
