The interest rate on a typical two-year fixed-rate mortgage has broken 6% for the first time in 14 years. The sudden rise has left first-time buyers with few affordable mortgage options, and those looking to re-mortgage facing huge increases in their monthly repayments.
On the Sky News Daily, Niall Paterson speaks to two people whose plans have had to change as a result of the uncertainty with mortgages, plus get some advice from mortgage broker Sarah Tucker.
Editors – Philly Beaumont
Podcast producer – Rosie Gillott
Interviews producer – Alys Bowen
Digital producer – David Chipakupaku
Source : Sky.com