Phil Spencer warns against making rash decisions this year
(Picture: Handout)With the UK economy heading for a recession, and the Bank of England warning that it may prove to be the longest downturn since records began, it’s an uncertain time for everyone — not least those considering moving home.
Tomorrow’s Budget may see further turbulence for the money and property markets, with Chancellor Jeremy Hunt set to outline how the Government plans to fill the UK’s £55 billion fiscal hole. The catastrophic mini-Budget set out by his predecessor Kwasi Kwarteng in September sent the pound into freefall, already rising interest rates were hiked further and lenders withdrew hundreds of mortgage offers overnight, throwing the property market into disarray and denting the confidence of many home buyers.
