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The Guardian - UK
The Guardian - UK
Business
Shane Hickey

How to survive UK mortgage turmoil as rates go up and deals are pulled

Jeremy Hunt OBR Moneyfacts
A woman looking at houses for sale in an estate agent's window
First-time buyers and homeowners were offered little comfort by Jeremy Hunt’s budget last week. Photograph: Yui Mok/PA

The average mortgage rate that UK homeowners are paying is set to rise steadily over the next three years, and peak at 4.2% in 2027, according to an official prediction last week.

The Office for Budget Responsibility (OBR), the Treasury’s tax and spending watchdog, says this is significantly higher than the 2% figure just over two years ago.

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