UK seeing biggest shock to mortgage market since Truss mini-budget, analysis shows

UK mortgage rates spike in biggest shock since Liz Truss's mini-budget as Iran war drags on

The conflict in Iran has delivered the most severe blow to Britain's mortgage market since the fallout from Liz Truss's mini-budget in September 2022.Average rates on two-year fixed mortgage deals surged by a full percentage point during March, rising from 4.84 per cent to 5.84 per cent.Five-year fixed products also increased sharply, climbing from 4.96 per cent to 5.75 per cent, according to analysis from Moneyfacts..Such rapid increases in bor…

UK mortgage market experiencing biggest upheaval since the mini Budget, says Moneyfacts

The Middle East conflict has triggered the biggest shock to the UK mortgage market since the mini Budget in 2022, with nearly a fifth of deals gone. The post UK mortgage market experiencing biggest upheaval since the mini Budget, says Moneyfacts appeared first on Mortgage Solutions.

'The biggest shock to the UK mortgage market since the 2022 mini-budget'

The Iran conflict has triggered the sharpest shock to the UK mortgage market since the 2022 mini-budget, the financial information company Moneyfacts has said, with rates soaring in the space of just one month. Mortgage deals have been rapidly repriced, with average two-year fixed rates jumping from 4.84% to 5.84% in a month, while five-year fixes are up to 5.75% from 4.96% – marking the sharpest rise since autumn 2022. At the same time, product…