Financial Times - Soaring bond yields set to lift UK mortgage rates
Mortgage borrowers will face a surge in refinancing costs next week after the chancellor’s mini-Budget sent government bond yields soaring, compounding the effect of yesterday’s Bank of England rate rise, brokers warned.
“Many of the biggest lenders’ cheapest deals are well over 4 per cent but it does not seem like it will be long before they are closer to 5 per cent,” said Aaron Strutt, technical director at broker Trinity Financial told the Financial Times.
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