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The National (Scotland)

National

Steph Brawn

Hundreds of mortgage deals vanish from 'volatile' market after mini-budget

David Hollingworth United Kingdom

HUNDREDS of mortgage deals have disappeared from the market in the days following the UK Government’s unpopular mini-budget announcement.

Analysis of the market by Moneyfacts.co.uk found on Friday last week - when Kwasi Kwarteng announced tax cuts for the highest earners and a lift on the bankers’ bonuses cap – that 3961 residential mortgage products were available.

By Monday this week the total had fallen to 3880 and, by Tuesday, it had shrunk further to 3596 deals - a reduction of 365 compared to Friday, the analysis for the PA news agency found.

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