This is set to affect thousands of people.
A record overnight drop in the choice of mortgage products has been recorded by a financial information website, as the economic fallout from Friday’s mini-budget continues.
“Borrowers who are currently locked into a fixed rate may be better off coming out of their deal early to refinance before rates climb higher, but this entirely depends on their current situation and the costs to do so. Nathan Reilly, director of customer relationships at Twenty7tec, said: “In the past week, we have set new records for the total number of daily mortgage searches as an industry.
Lending giants have been hiking mortgage rates and withdrawing products amid the market turmoil prompted by Friday’s mini-budget.
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