Today news
About the same in other media
UK borrowers warned: the days of cheap mortgages are over
Reading now: 479
The era of record low mortgage rates looks to be over, borrowers were warned this week, with the government’s independent forecasters predicting costs will rise rapidly over the next two years.
Inflation predictions from the Office for Budget Responsibility, (OBR) released alongside Wednesday’s budget, suggest that the cost of servicing a mortgage could grow by 5.6% next year and 13.1% the year after, as increases in the Bank of England base rate are passed on to borrowers.
According to financial firm AJ Bell, if the predictions are correct, someone who borrowed £250,000 on a two-year fixed-rate mortgage at 2.06% earlier this year could see their annual payments jump by £600 when they go to remortgage in 2023. Someone with £450,000 of
Read more on theguardian.comAbout this in other media
EU agrees to slap Belarus with new, wider raft of sanctions over border crisis euronews.com /3 years ago
Tesco Christmas ad: 1,500 complain over Santa with Covid vaccine passport theguardian.com /3 years ago
UK must stop using French as 'punchbags' over Channel migrant crossings, minister says euronews.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
