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The Latest Breaking News from Moneyfacts

Martin Lewis says mortgage timebomb has 'exploded' and says Tories were warned

Moneysavingexpert.com founder Martin Lewis said he warned Jeremy Hunt about the threat from rising mortgage rates at a summit in December

Daily Mirror

Mortgage ‘ticking timebomb’ I warned of has exploded, says Martin Lewis

Comments come as data shows average two-year fixed rate rises to 6.07%, and five-year to 5.72%

The Guardian - UK

Average two-year fixed-rate mortgage tops six percent for first time in 2023

The average two-year fixed-rate homeowner mortgage on the market has topped 6 per cent for the first time this year.

The National (Scotland)

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Average two-year fixed-rate mortgage tops 6% for first time in 2023

The last time that the average two-year fixed-rate mortgage was 6% or higher was in December 2022, according to figures from Moneyfactscompare.co.uk.

The Independent UK

Average two-year fixed rate mortgage deal hits 6% for first time this year, as Sunak rules out extra help – business live

Average mortgage rates hit highest level since December, as asking prices for British homes fall in June for the first time in six years

The Guardian - UK

What are the best options if you are looking for a mortgage?

With interest rates predicted to rise again and cost of fixed-rate deals on the up, here’s what you need to know

The Guardian - UK

Average fixed mortgage rates edge closer to 6% as more deals are hiked

The typical two-year fixed-rate deal was sitting at 5.98% on Friday, Moneyfactscompare.co.uk said.

The Independent UK

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Mortgage mayhem explained: Why are rates rising and what should you do now?

Mortgage rates are rising, spelling more misery for millions of homeowners across the country - but why are deals getting more expensive and what should you do next?

Daily Mirror

Labour says ‘Tory mortgage penalty’ costs homeowners extra £7,000 a year

Opposition finds fallout of Liz Truss mini-budget has raised average mortgage interest payments by £150 a week in two years

The Guardian - UK

Average homeowner pays £223 a week 'mortgage penalty' as interest rates triple

This equates to £7,000 a year and the the 'reckless economic gamble' taken by the Conservatives during September’s mini-Budget has been blamed

Wales Online

HSBC pulls mortgage products and Nationwide hikes deals over fears of rate rises

HSBC has removed its "new business" residential and buy-to-let products, while Nationwide increased its fixed rates as well as reducing some rates on trackers

Daily Mirror

HSBC pulls mortgage products for new borrowers ahead of rates hike

Nationwide Building Society is hiking some fixed rates from Friday while HSBC UK has temporarily removed some products before relaunching on Monday

The Independent UK

More pain for home buyers as Nationwide hikes mortgage rates HSBC deals disappear

It's more bad news for people buying or remortgaging

Wales Online

Mortgage rates hiked and products temporarily withdrawn by lenders - OLD

Nationwide Building Society is hiking some fixed rates from Friday while HSBC UK has temporarily removed some products.

The Independent UK

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Manchester Evening News

Average two-year fixed-rate mortgage increases by £35 a month in weeks

It comes as a Bank of England interest rate review takes place later this month

Daily Mirror

Almost 800 mortgage deals pulled since last week over fears of more interest rate rises

New data from Moneyfacts shows the number of residential mortgages has fallen from 5,385 deals to 5,012, while buy-to-let deals have dropped from 2,748 to 2,343.

The Guardian - UK

Almost 800 UK mortgage deals pulled as concerns mount over interest rate rises

Number of residential deals down by almost 7% in a week, in echo of crisis that followed Liz Truss mini-budget

The Independent UK

Nationwide increasing some mortgage rates for new borrowing from Friday

The building society said the move will ensure its mortgage rates remain sustainable in the current economic environment.

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The Guardian - UK

UK mortgages: time to switch and fix to save up to £400 a month

Average SVR at highest level for more than 15 years as number of home loan products available jump

Daily Record

More than 800 mortgage deals for people with a 15% deposit now on the property market

Moneyfacts counted 5,264 mortgage options available for homebuyers this month.

The Independent UK

Choice of mortgage deals ‘at more than double the level seen last October’

Moneyfacts counted 5,264 options available in May 2023, up from 2,258 in October 2022, when the market was digesting the impact of the mini-budget.

The Week

UK mortgage predictions: where will rates go next?

Mortgage rates are rising again and products are being pulled from the market amid higher-than-expected inflation figures.

The Independent UK

Choice of mortgage deals tops 5,000 but some rates have climbed higher

The average standard variable rate is at its highest since February 2008, Moneyfacts said.

The Guardian - UK

Do your homework if you want to grab rising savings rates

Inflation has brought some good news – for savers. But the best deals may not be around for long

The Guardian - UK

Marathon mortgages of up to 40 years on rise among UK first-time buyers

More opt for longer loan deals and lower monthly payments as rents soar in cost of living crisis

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