Would you like banks bidding to offer you the best rates?
OK, so our economy is short of oil to grease the wheels. Our banks don’t want to lend to anyone and they are now offering pitifully low interest rates to savers who want to give them cash. This is annoying and it is not good.
Howabout we have an ebay style system where banks bid to lend to us, starting at a ludicrously high interest rate and gradually eroding down until we have the lowest market price available. The same (with bidding in the opposite direction) could be done for savings accounts.
One loan for sale, £20,000 to a reliable owner, credit history attached…