Mortgage rates have been rising for months but saw a sharp increase following the mini-budget last month.
"Predicting what happens next means making sense of the many variables now at play, and the housing market has consistently defied expectations in recent times," she added. On Thursday, the bosses of major UK banks met the Chancellor, Kwasi Kwarteng, and the latest developments in the mortgage market were discussed.
Need to fact check your reports. Mortgage lenders will not withdraw mortgage offers after they have been issued (they're legally binding on the lender) unless there is a material change in the application. They may withdraw products or decline applications on new lending rules.
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