Britain’s biggest mortgage lender Halifax has piled more cost of living pain on homeowners by increasing the cost of most of its fixed-rate deals by more than a percentage point.
The rises, which come after Kwasi Kwarteng’s botched mini-budget brought turmoil to financial markets, mean that owners face substantial increases in their costs when they move or remortgage. For first-time buyers it will make it even more expensive to climb on the housing ladder.
