Pain for mortgage holders as investors bet Bank of England to raise rates even higher

By August traders in money markets were betting on rates hitting 2.75% next year. Then, after Liz Truss took office, the expected peak rose to 4.7%. Today, in the wake of Friday's fiscal event, the expected peak rose to 6%.

For much of the past few generations, the average household had significantly lower mortgage debts and considerably higher incomes versus their repayments. Thus even though the nominal interest rate was exceedingly high, those mortgages were actually more affordable.

Behold the interest rate scaremongering has begun

Terrible financial times, however did we manage when interest rates were 7Percent then went to 14. People have over stretched with mortgages, they were always going to go up. Still no financial education at school. Why is it problematic teaching maths you use in your life

Property market collapse incoming.

How is bankrupting half the country going to solve the economic crisis? - energy up £1000s - food bills up £1000s - mortgage repayments up £1000s - pound weak so cost of anything imported up Half the population will be destitute. Eventually there will be riots.

And Andrew Bailey the governor of BOE just happens to be another WEF puppet, ya know the ones who have said we will own nothing and be happy. But I’m sure it’s not all part of agenda 2030 🤔

Good for people who save their money!

And the rich keep getting richer, was this always the plan, Conservatives looking after those who need it the least, the majority need to rise up and say EnoughIsEnough ToriesOut

Tories who can't get reelected 1.cut tax for the wealthy 2.change legislation in favour of the wealthy 3.Raise interest to tank mortgage repayments,thousands default, property sells cheap,the affluent by them up,labour stabilise the market but now the tories have more property

What a happy pay day. I received my payout today and I’m so happy to be a member of your company thank you Lauren_Flores_1

It's almost like they were lying to you..

Thank fcuk, our mortgage is fixed for the next few years at least.

Everything just keeps getting better and better here since Corbyn was stopped.

This is the greatest surprise all my life to wake up and receive $16,000 out of $1000 investment after so many tries I finally found a Legit platform for investment. All thanks to Mrs Lauren_Flores_1 for making this possible. 🔽🔽🔽🔽 Lauren_Flores_1

Why doesn’t the Government simply stop spending and cut taxes? That’s the only proven way to reduce inflation.

And 1/2 of the mortgage industry gets laid off.

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mortgage providers have started pulling deals for new customers after the pound crashesUK government bonds sinking could lead to higher mortgage interest rate payments 👉 Industry experts have warned the mortgage market is in a “mess” with lenders pulling deals as they cannot keep up with the fall-out from the mini budget last week
Source: i newspaper - 🏆 8. / 89 Read more »

Pound sterling: Bank of England says it won't hesitate to raise interest rates - BBC News“The Labour party now has got its act together” Labour peer Peter Mandelson says the Conservatives have “thrown away” their reputation for fiscal discipline, and Labour can capitalise on this Newsnight AnnaCollinson That butcher thinks his customers (some of who he says 'don't exist anymore' after 33% rise in the price of his produce) will have more money in their pocket after the tax cuts? “It’s a new approach that will ultimately deliver for the whole UK”. Nonsense - it’ll allow the obscenely rich to pay less tax and will hammer the rest of us through even higher inflation, higher interest rates and a weaker pound. These charlatans should be nowhere near power.
Source: BBCNewsnight - 🏆 109. / 51 Read more »

Warning to anyone with a mortgage after tax cut announcementIt's also been suggested that the Bank of England may even be forced to introduce an emergency interest rate hike
Source: Daily_Record - 🏆 9. / 89 Read more »

Bank will 'not hesitate' to raise interest rates after pound's fallA weak pound makes it more expensive to buy imported goods and risks pushing up the rising cost of living even further. What is the government doing to help people who want to travel or transfer money abroad No need to rush BOE,crazykwasi said he will sort it in November. what’s stopping it ?
Source: BBCLondonNews - 🏆 115. / 51 Read more »

Banks pull mortgage deals for new customers as brokers predict major shift in UK mortgage marketBanks and building societies including Halifax, the UK's biggest mortgage lender, are withdrawing some of their mortgages from sale - following market turmoil caused by the government's mini budget. The Great Depression round 2 is about to begin! Speak to a mortgage broker if you need help could save you lots of money MostlyMortgages Never been more certain of an indy Scotland.. Absolutely no way we could do worse than this UK gvt.
Source: LBCNews - 🏆 75. / 59 Read more »