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in Economy

Brits are facing a major mortgage crisis as lending rates soar

by Editor June 19, 2023, 12:59 pm 1.9k Views

Houses pictured on 8th June 2023 in Halifax, United Kingdom. U.K. borrowers are facing sharply higher mortgage costs.

Mike Kemp | In Pictures | Getty Images

LONDON — U.K. borrowers are facing a cliff edge that could damage the economy as rising mortgage costs hit deal renewals and the number of products available shrinks, experts warned Monday.

New figures from financial information company Moneyfacts showed the average two-year fixed rate…

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Brits are facing a major mortgage crisis as lending rates soar

Posted by Editor

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