Britain's housing market is stalling badly today with lenders pulling 1,000 mortgage deals and homeowners putting their houses up for sale because they cannot afford the cost of rising interest rates, estate agents have warned.
#interestrates #mortgages
https://www.dailymail.co.uk/news/article-11261511/House-sales-COLLAPSE-banks-pull-mortgage-offers-11th-hour.html?ito=social-twitter_mailonline
#interestrates #mortgages
https://www.dailymail.co.uk/news/article-11261511/House-sales-COLLAPSE-banks-pull-mortgage-offers-11th-hour.html?ito=social-twitter_mailonline
Mail Online
Housing market in chaos as banks pull mortgage offers and homeowners 'sell up because they can't afford repayments': First-time…
Mark Pepperell, from Birmingham, owns his home but is considering selling it and going into rented accommodation with his partner Leanna.
The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years.
It warned the UK would face a "very challenging" two-year slump with unemployment nearly doubling by 2025.
#interestrates #uk #recession
https://www.bbc.co.uk/news/business-63471725
It warned the UK would face a "very challenging" two-year slump with unemployment nearly doubling by 2025.
#interestrates #uk #recession
https://www.bbc.co.uk/news/business-63471725
BBC News
Bank of England expects UK to fall into longest ever recession
The Bank of England raises interest rates to 3%, marking the biggest rise for 33 years.