Inflation and the BOE are increasing strains on the market
The UK housing market is facing new hurdles after being rocked by the worst cost-of-living crisis in a generation, economic uncertainty and soaring borrowing costs.
The pressure is building fast amid a fresh jump in mortgage rates and a rush by lenders to pull products as bond yields rise to levels last seen in 2008. On Wednesday, HSBC Holdings Plc announced a second mortgage price hike in a week. That’s setting up borrowers and homebuyers for a nerve-racking summer where interest rates keep rising, loans get more expensive and good deals become harder to find.