Mortgages: What's the best way to plan?
Monday 10 October 2022 08:31, UK
The interest rate on a typical two-year fixed-rate mortgage has broken 6% for the first time in 14 years. The sudden rise has left first-time buyers with few affordable mortgage options, and those looking to re-mortgage facing huge increases in their monthly repayments.
On the Sky News Daily, Niall Paterson speaks to two people whose plans have had to change as a result of the uncertainty with mortgages, plus get some advice from mortgage broker Sarah Tucker.
Since this episode was recorded, the Chancellor, Kwasi Kwarteng, has announced that he'll unveil his medium-term financial plan on Halloween, along with a forecast by the Office for Budget Responsibility.
Editors - Philly Beaumont
Podcast producer - Rosie Gillott
Interviews producer - Alys Bowen
Digital producer - David Chipakupaku