The financial rollercoaster we’ve all been riding for a while took another lurching turn this week after the fallout from Kwasi Kwarteng’s mini-budget continued to cause chaos.
Mortgage deals evaporated and were in many cases dramatically repriced upwards, throwing borrowers’ plans into disarray. Stock markets tumbled and the pound tanked, while homeowners and borrowers were warned to brace themselves for a sharp rise in interest rates, and some analysts claimed house prices could fall by as much as 20%.
