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Wales Online
Wales Online
Vicky Shaw & Jonathon Manning

Nearly 1,000 mortgages disappear from the market overnight after mini-budget

Moneyfacts

Nearly 1,000 residential mortgages were pulled from the market overnight following the Government's mini-budget. The overnight drop in mortgages is the biggest on record.

Consumer finance site Moneyfacts.co.uk said that there were 935 fewer mortgages on the market on Wednesday compared with Tuesday. This is the highest fall on Moneyfacts’ records going back to November 2011.

The number is nearly double the previous record of 462, which occurred on April 1, 2020. This was in response to the UK's coronavirus lockdowns. Moneyfacts counted 2,661 mortgage products on the market on Wednesday, down from 3,596 on Tuesday.

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