The government has scrapped most of the key elements of its mini-budget after just over two weeks
Read MoreMini-Budget Scrapped: A Simple Guide to Why Plan Was Dropped
Author: interestratesinfo
‘Kicking Myself I Didn’t Move Faster’: Fear and Panic Grips Housing Market
In a Hertfordshire town, buyers, sellers and estate agents tell of the effects of Kwarteng’s mini-budget.
Read MoreSoaring Mortgage Rates to Pile Pressure on Property Markets Worldwide
How could housing markets, which have felt nothing but price growth for a decade, tip into crash territory?
Read MoreProperty Fallout Spreads as Borrowing Costs Jump
The ripple effect from the withdrawal of mortgage products continues to make itself felt across the market.
Read MoreMore Mortgage Products Now on Offer – But Interest Rates Continue to Rise
The average interest rate on a two year fixed term mortgage is now 6.3%, nearly triple the 2.25% rate just a year ago.
Read MoreUK House Prices Expected To Fall as Mortgage Rates Soar
Increasing mortgage costs and the wider cost of living crisis will place downward pressure on UK home prices over the next few months, according to Halifax.
Read MoreCost of living: Couple Narrowly Beat Mortgage Rates Rise
First-time house buyers who got a mortgage just weeks before interest rates shot up have said buying is “scary” at the moment.
Read MoreNatWest Raises Mortgage Rates in Line With its Rivals
Most of its rates, which previously hovered around 3-4%, are set to rise to between 4% and 6% from Monday, bringing it in line with its competitors.
Read MoreExperts Warn That 45% Tax U-turn is Too Late to Stop Mortgages Soaring
More than 40% of mortgage products were pulled after Kwasi Kwarteng’s mini-Budget triggered a slump in the pound, with the average two-year fixed rate now close to 6%
Read MoreUK House Prices Flatlining As Mortgage Rates Rise, Says Nationwide
Lenders began suspending products after the chancellor’s sweeping tax-cutting plans triggered a sell-off in financial markets and raised expectations for higher interest rates. The volatility made it increasingly difficult for lenders to price deals.
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