Taylor Wimpey has seen soaring mortgage rates “inevitably” impact the first half, with the housebuilder recording a slide in profits and revenue tumbling by 21%.
Chief executive Jennie Daly said there were “variable” market conditions during the six months to July 2, with an encouraging start. That was before a weaker second quarter when the Bank of England responded to higher than expected inflation by raising interest rates by a half point to 5%.
