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The Independent UK
The Independent UK
Business
Karl Matchett

Mortgage rates soar above 5% as market hit by most turbulent days since Truss mini-Budget

Moneyfacts United Kingdom

Nearly 500 mortgage deals for homeowners have been pulled from the market over the Middle East conflict – the fastest disappearing act since the aftermath of the 2022 mini-budget.

Average mortgage rates have also soared past the five per cent mark as lenders scramble to hike their rates for both two- and five-year fixes.

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