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The reasons are affordability issues and, given reduced transaction levels, lenders “pricing their product transfers in line with their new business ranges”.
Mortgage rates have been falling in recent months, following the post-mini-Budget spike. We ask whether a base rate rise to 4% this week could be a turning point.
Mortgage rates have been falling in recent months, following the post-mini-Budget spike. We ask whether a base rate rise to 4% this week could be a turning point.
Lenders continue to shun ‘riskier’ borrowers amid a falling property market
Ahead of today’s delayed Autumn budget, which chancellor Jeremy Hunt will deliver, mortgage brokers have called for stamp duty benefits to remain and for stabilisation of the housing sector. The budget was pushed back from 31 October to allow Sunak more time to scrutinise the figures and formulate the government’s