Not great for new buyers or those whose fixed rates are coming to an end. A side effect of the badly-managed mini budget.
Quote:
UK economy latest news: Average two-year fix mortgage rate approaches 6% - 'repossessions probably unavoidable'
The average two-year fixed rate mortgage is now 5.97%, MoneyFacts says, amid a warning that repossessions on a significant scale are becoming inevitable.
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https://news.sky.com/story/uk-econom...dable-12615118