UK lenders halt mortgage deals to customers after market chaos - Printable Version

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UK lenders halt mortgage deals to customers after market chaos - Levin - 28-09-2022

PUBLISHED TUE, SEP 27 20226:37 AM EDTUPDATED TUE, SEP 27 20227:44 AM EDT
Sophie Kiderlin

• The British bond and currency markets have been in turmoil since Finance Minister Kwasi Kwarteng announced his “mini-budget” on Friday.
  

• The yield on the U.K. 10-year gilt soared to levels not seen since 2008 on Monday, while the British pound plummeted to an all-time low against the dollar.
  

• Markets have begun pricing in a base rate rise to as high as 6% for next year, from 2.25% currently, raising concerns among mortgage lenders and borrowers.
  

https://www.cnbc.com/2022/09/27/uk-lenders-halt-mortgage-deals-to-customers-after-market-chaos.html

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