Increasing lending rates cause a significant mortgage crisis for Brits.

June 19, 2023

Houses pictured on 8th June 2023 in Halifax, United Kingdom. U.K. borrowers are facing sharply higher mortgage costs. Mike Kemp | In Pictures | Getty Images LONDON — Experts have warned that U.K. borrowers are on the brink of an economic crisis as mortgage costs rise and available mortgage products decrease. New data from financial …

HSBC Withdraws Certain UK Mortgage Deals as Home Buyers Fear Increasing Rates Yet Again

June 16, 2023

According to a report by Moody’s Investor Service, the UK housing market (Aa3 negative) will experience a correction due to persistently high inflation and the recent spike in lending rates. HSBC, the largest bank in the UK, temporarily withdrew mortgage deals through broker services in response to the ripple effect of higher interest rates on …