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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

UK mortgage rates are soaring – what can you do?

Halifax Adam Vaughan Chris Sykes EPA Moneyfacts
Different coloured houses in Brighton UK.
Moneyfacts says the average new two-year fixed rate was at 5.75% on Monday, 6.07% on Wednesday, and 6.11% on Thursday. Photograph: Edward Simons/Alamy

Rates on new mortgages continued to climb this week as the fallout from the mini-budget continued to reverberate through the housing market. The higher rates on offer are bad news for first-time buyers and those looking to remortgage, who face much bigger monthly payments. So how bad are things, and what can you do?

So what has been happening this week?

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