Source: Reuters —
LONDON, Sept 26 (Reuters) – Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance minister Kwasi Kwarteng’s mini-budget last week.
Brokers said the moves were likely just the start of a big shift in Britain’s mortgage market.
The country’s largest mortgage lender Halifax said it was withdrawing its fee-paying mortgage products – where borrowers could pay an arrangement fee in exchange for a lower interest rate – and moving to a full fee-free range.
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