Banks and constructing societies are withdrawing tons of of mortgage offers in anticipation of additional rate of interest rises — however the place does this go away debtors and people desirous to get on to the housing ladder?
The Financial institution of England raised rates of interest aggressively final week to attempt to tackle the market turmoil within the wake of chancellor Kwasi Kwarteng’s tax-slashing “mini” Price range. The fallout induced chaos within the mortgage market, with lenders, together with HSBC and Santander, suspending new offers as they tried to reprice them.
What does this mortgage turmoil imply for people? Will debtors be capable of remortgage? How excessive may charges go? Will there be a property crash?
FT shopper editor Claer Barrett, FT Home and Residence editor Nathan Brooker and mortgage skilled Andrew Montlake, managing director of dealer Coreco, will reply your questions on mortgages, shifting dwelling and the broader outlook for the housing market all through the day on Friday September 30.
Put up your queries within the feedback field beneath and our specialists will drop in commonly on Friday to reply them.