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After a meeting between Jeremy Hunt and bankers at No 10, Nikhil Rathi says there will be ‘no repeat’ of 2008Mounting mortgage pressures will not tip Britain into the tidal waves of repossessions witnessed in recent financial crises, the head of the Ci…
Measure among three to emerge from meeting to help struggling households after sharp rate hikeBusiness live – latest updatesStruggling mortgage holders will be given a 12 month grace period before their repossession proceedings begin, in an agreement b…
Rates will remain at level until summer 2024 after Bank of England hikes benchmark rate by half a percentage pointThe financial markets are predicting UK interest rates will hit 6% by the end of the year, and remain at that level until next summer, aft…
In today’s newsletter: Rising inflation and interest rates mean real pain for homeowners – with few signs of relief on the waySign up here for our daily newsletter, First EditionGood morning. Some call it a catastrophe. Others prefer crisis, “ticking t…
Borrowers who made a short-term choice after the 2008 banking crisis were lucky – current borrowers have been equally unluckyAs mortgage lending rates surge to levels not seen since the banking crisis, some borrowers are wondering whether there is some…
Report finds that raising minimum energy efficiency standards by 2030 could have huge impact beyond billsFixing Britain’s draughty homes could add almost £40bn to the economy by the end of the decade by cutting energy use and improving health, accordin…
Prime minister says no new support available for households struggling to pay loans Business live – latest updatesRishi Sunak has ruled out extra help for UK homeowners struggling to pay soaring mortgage costs, as the average two-year fixed-rate loan r…
More than 2.4m deals are ending in 2024, raising fears of financial timebombMore than a quarter of UK homeowners on a fixed-rate mortgage are heading for sharp increase in monthly payments before the next election, in a financial timebomb that will roc…
Nationwide is latest lender to lift cost of deals as borrowers brace for 13th successive Bank of England interest rate riseThe average rate on a new two-year fixed mortgage has edged closer to the 6% threshold, as Nationwide became the latest big lende…
Citizens Advice says landlords may be issuing section 21 notices before practice is banned in EnglandA record number of renters need help with no-fault evictions, suggesting landlords may be pushing cases through before the practice is banned in Englan…