Mortgage rates

Halifax, Virgin Money and Skipton were among providers to take the step. The lenders acted after a day of wild swings on currency markets which saw the pound ...

“It is possible that this is enough to stop the rot. the markets may well need more reassurance and some actual action.” He will say it is the Labour Party that now stands for “sound money” and will recommit Labour to an Office for Value for Money to make sure taxpayers’ money is spent in the national interest - a plan designed to reassure a sceptical public that Labour can be trusted with their money. The City had expected a 0.75 percentage point rise. The reality is kicking in about what that would mean for ordinary households. In Sir Keir's keynote speech to his party conference in Liverpool, he will on Tuesday declare Labour as the party of fiscal responsibility in contrast to the Tories whom he will blame for the turmoil on the markets. Virgin Money said that it had temporarily withdrawn all mortgage products for new customers. Sir Keir will tell delegates that two years after the end of the disastrous Corbyn years, Labour is now back at the “centre ground” of British politics and will “fight the Tories on economic growth”. A Treasury spokesman said: “The Fiscal Plan will set out further details on the Government’s fiscal rules, including ensuring that debt falls as a share of GDP in the medium-term.” In a pointed reference to market demand for forecasts for the public finances from the independent Office for Budget Responsibility (OBR), which were not released by Kwasi Kwarteng, the Chancellor, when he announced plans to slash taxes last week, Mr Bailey said: “I welcome the Government’s commitment to sustainable economic growth, and to the role of the Office for Budget Responsibility in its assessment of prospects for the economy and public finances.” "As the MPC has made clear, it will make a full assessment at its next scheduled meeting of the impact on demand and inflation from the Government’s announcements, and the fall in sterling, and act accordingly." It comes as Sir Keir Starmer is set to paint Labour as the party of “sound money”, as he lays out his Blairite vision for the future of the country.

It's not been a great couple of days for anyone in the market for a new mortgage. First the Bank of England (BoE) voted to raise the base rate by 0.5 ...

To combat this, if you’ve got six months or less left on your current mortgage deal, you can secure a new rate now for when it ends. For those of you who have already submitted a mortgage application, there’s at least some reassurance as you will be able to keep hold of that rate. [is now a good time to remortgage?](https://www.thetimes.co.uk/money-mentor/article/remortgage/) article. At the time of writing, the country’s largest mortgage lender Halifax had withdrawn its fee-paying mortgage products – where borrowers could pay an arrangement fee in exchange for a lower interest rate – and moved to a full fee-free range. It’s not been a great couple of days for anyone in the market for a new mortgage. Editor’s letter: As mortgage rates are being pulled, is now the time to grab a deal?

Lenders price their mortgage interest rates against the Bank of England base rate which increased to 2.25% last week. Until recently financial markets thought ...

In short the outlook for interest rates has changed and lenders need to ensure their mortgage products are profitable, as well as affordable for customers. If you have six months or less to run on a fixed-rate mortgage it might be wise to start shopping around for a new rate. However, the upshot of all this is less choice and higher borrowing costs when you do need to find a new deal. “Major mortgage players are hauling in the sails after the wind changed,” said Sarah Coles, a senior personal finance analyst at Hargreaves Lansdown. So whether you are a first-time buyer or looking to remortgage what does the mortgage market turmoil mean for you? On Tuesday morning there were 3,596 residential mortgage deals available, 284 fewer than before the sharp fall in the value of the pound on Monday morning, according to data firm Moneyfacts.

Norfolk finance experts are urging homeowners to seek mortgage advice as soon as possible as lenders pull deals from the market.

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