2024-07-23 07:00:00 +0300

UK Lenders Struggle to Cope With Demand as Mortgage Costs Soar

Bloomberg

UK lenders are pulling mortgage products to avoid being overwhelmed by surging demand from customers seeking to fix their payments amid record rises in home loan rates.

Some borrowers, typically with larger mortgages, are even paying penalties to get out of their existing loans so they can secure lower repayments, according to Tony Davis, head of mortgage products at Metro Bank Plc.

#existingloans #mortgageproducts #bankplc #surgingdemand #lender

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