🏠 The average rate for a two-year fixed-rate mortgage now stands at 6.01% with a five-year deal 5.67% as Rishi Sunak rules out more help for homeowners joeduggan1 reports
, the Prime Minister said: “I know the anxiety people will have about the mortgage rates, that is why the first priority I set out at the beginning of the year was to halve inflation because that is the best and most important way that we can keep costs and interest rates down for people.“But there is also support available for people. We have the mortgage guarantee scheme for first-time buyers and we have the support for mortgage interest scheme which is there to help people as well.
Chancellor, Jeremy Hunt, is set to urge banks to help support those whose mortgage payments have been soaring in recent months., according to recent data. Figures from Rightmove show the price of homes fell by £82 in June to £372,812 the first monthly decrease this year, in a sign that a market correction is underway.from their current level of 4.5 per cent.the cost of living crisisThe Bank has said it expects inflation to fall to around 5 per cent by the end of this year before dropping to its 2 per cent target by late 2024.
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