27 Sep 2022

How sterling crisis is impacting those looking for a mortgage

Political Editor

Sir Keir Starmer has declared it a “Labour moment” – telling his party it’s time for them to end twelve years of Conservative rule.

For the markets it remains a moment of crisis, as the pound failed to make up the losses sustained since the government’s mini budget last week.

The Bank of England says it will be meeting the moment with a “significant response” – which may calm the City, but will be no comfort to  people looking for a new mortgage deal, who now face large increases in their payments.