Warning UK mortgage rates set to rise further
Business / Wed 14th Jun 2023 at 11:09am
BORROWERS are being warned mortgage rates are set to rise further as turbulence continues to hit the market reports the BBC.
Broker London & Country said lenders had been withdrawing deals and raising rates at a “relentless pace” and this week would “bring more of the same”.
Mortgage rates have gone up about 0.5 percentage points in the last month to approach an average fixed deal of 6%.
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Spare a thought for the renters who will be disproportionately impacted by this.