Britain’s banks are re-entering the mortgage market after halting loans following last week’s financial chaos – but rates are almost 6%.
The average rate on two-year fixed deals jumped to 5.75% on Monday, up from 4.74% on 23 September, the day of the chancellor’s mini-Budget.
The increase means rates on two-year fixed deals are at their highest level since December 2008, when rates were 5.8%.
