Page 8 - Simon Gammon News Today

New chancellor Jeremy Hunt has announced a string of u-turns after weeks of turmoil following the mini-budget - here's what they mean for you.

New Chancellor Jeremy Hunt confirmed he is ditching many of the measures in the mini-budget in a bid to stabilise financial markets.

New Chancellor Jeremy Hunt confirmed he is ditching many of the measures in the mini-budget in a bid to stabilise financial markets.

Liz Truss vowed to press ahead with her controversial economic plans - despite Tory warnings that the fallout from her mini-Budget could hand Keir Starmers Labour the next election.

Banks are cutting how much they will lend and pulling deals – here’s everything homeowners need to know

Mortgage panic is deepening as families fear that they will default on soaring repayments and lose their homes amid warnings of a 15 or even 20 per cent fall in house prices.

Hard-pressed homeowners can use MailOnlines mortgage calculator to see how much their monthly repayments will soar by if interest rates rise to seven per cent.

Nationwide became the flender to hike its fixed-rate deals yesterday, with the banks two-year rate rising to 5.59 per cent - more than double the 2.54 per cent it was offering three months ago.

Mortgage panic is deepening as families fear that they will default on soaring repayments and lose their home  amid warnings of 15 per cent fall in house prices as lenders pull 1,000 deals in a day.

Terrified homeowners have already begun putting their properties back on the market following seven interest rate rises this year, amid fears it could climb to 6 per cent in the first half of 2023.