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The Independent UK
The Independent UK
Business
Vicky Shaw

Hundreds of mortgage deals vanish from the market as Britain’s economy flatlined in January

Moneyfacts
The average two-year homeowner mortgage rate had climbed to 5.10 per cent - (PA Archive)

Hopes for a steady decline in mortgage rates have "collapsed" this week, as more than 530 homeowner mortgage deals were pulled from the market since Monday. Financial information website Moneyfacts reported that this represents approximately 7.5 per cent of available deals.

The rapid withdrawals mark the fastest pace since the 2022 mini-budget, with some average mortgage rates already surpassing the 5 per cent threshold amidst volatile financial markets.

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