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The Latest Breaking News from The Bank of England

Average two-year fixed rate mortgage deal hits 6% for first time this year, as Sunak rules out extra help – business live

Average mortgage rates hit highest level since December, as asking prices for British homes fall in June for the first time in six years

The Guardian - UK

Average two-year mortgage interest rate hits 6% as Rishi Sunak rules out homeowner help

The average 2-year fixed rate mortgage rate climbed to 6.01% on Monday in a fresh blow to homeowners and first-time buyers

Evening Standard

Mortgage help ‘not ruled out’, says minister Michael Gove

The Levelling Up Secretary adds he does not have a mortgage himself

Evening Standard

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Michael Gove says cash to help families pay mortgages can't be 'magicked out of thin air'

Cabinet minister Michael Gove said Tories have 'exacerbated' the issue of soaring borrowing rates with Liz Truss's mini-Budget - and the squeeze on mortgage holders is set to tighten

Daily Mirror

Millions are facing soaring mortgage rates. How did we leave them so vulnerable?

Homeowners in Britain are especially at risk because of a shortage of long-term loans. The sooner the Bank of England acts to fix this the better

The Guardian - UK

Brexit to blame for soaring inflation, former Bank of England boss says: ‘We told you so’

Mark Carney says there is ‘no joy’ in laying this out as ‘people are having to live with that reality’

The Independent UK

Brexit to blame for rising inflation, says former Bank of England governor

Mark Carney says Bank’s negative predictions about consequences of leaving EU ‘proven to be the case’

The Guardian - UK

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UK homeowners face huge rise in payments when fixed-rate mortgages expire

More than 2.4m deals are ending in 2024, raising fears of financial timebomb

The Guardian - UK

What are the best options if you are looking for a mortgage?

With interest rates predicted to rise again and cost of fixed-rate deals on the up, here’s what you need to know

The Guardian - UK

Warning over house sales this summer as mortgage rates rise again

Property experts say rising interest rates are continuing to dampen the housing market

Manchester Evening News

Average fixed mortgage rates edge closer to 6% as more deals are hiked

The typical two-year fixed-rate deal was sitting at 5.98% on Friday, Moneyfactscompare.co.uk said.

The Independent UK

Sunak should never have made his woolly inflation pledge

The prime minister has set a target that was not in his power to deliver, and he ignored political convention to do so

The Guardian - UK

Public sees a way out of cost-of-living crisis, with inflation expected to fall to just 3.5% by next May

Inflation expectations were down from 3.9% in the previous survey

Evening Standard

UK government urged to help mortgage holders as rates keep rising; company insolvencies jump 40% – as it happened

Lib Dems call for emergency mortgage protection fund, as new data shows two-year fixed rate mortgage has jumped to 5.98% and confidence in Bank of England falls

The Guardian - UK

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The Guardian - UK

Windrush ‘pardner hand’ saving scheme celebrated at Bank of England Museum

When people came from the Caribbean last century and were turned away by banks, many relied on communal trust

The Guardian - UK

Average mortgage rate for two-year fixed deal edges closer to 6%

Nationwide is latest lender to lift cost of deals as borrowers brace for 13th successive Bank of England interest rate rise

Daily Mirror

Mortgage mayhem explained: Why are rates rising and what should you do now?

Mortgage rates are rising, spelling more misery for millions of homeowners across the country - but why are deals getting more expensive and what should you do next?

Insider UK

‘No alternative’ to interest rate rises for lowering inflation - Chancellor

Households are braced for a further increase in rates from the Bank of England next week

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Evening Standard

Mortgage mayhem: London homeowners feel pain as repayments soar

Analysis for the Standard shows London homeowners face annual mortgage payments sky-rocketing by as much as £8,000

The Guardian - UK

European Central Bank raises interest rates to fight inflation; Nationwide to lift fixed mortgage rates – as it happened

UK mortgage holders face worst squeeze since 1990s crash, while Europe’s central bank hikes borrowing costs to battle inflation

The Guardian - UK

UK has no choice but to raise interest rates to curb inflation, says Jeremy Hunt

Chancellor gives unstinting support to Bank of England as households brace for borrowing costs to rise again

The Independent UK

Banks should increase returns on savings amid interest rate rises, says top Tory

Harriett Baldwin, chairwoman of the Treasury Select Committee, suggested banks should take the step if they are also raising mortgage rates.

Daily Mirror

Mortgage borrowers warned of further rate rises as ANOTHER major lender pulls deals

Santander is the latest major mortgage lender to announce a temporary pause on some mortgage applications, with plans to relaunch its products on Wednesday

The Guardian - UK

UK borrowing costs soar above levels of Liz Truss premiership

Stronger than expected job and pay data makes interest rate rise more likely, driving up two-year bond yields

The Guardian - UK

UK short-term borrowing costs surge above Truss-era highs; US inflation falls to 4% – as it happened

UK interest rates expected to hit 5.5% by December after regular pay grows by a record, sending two-year bond yields soaring

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