Kwasi Kwarteng to meet bank bosses as mortgage rates soar

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Kwasi Kwarteng to meet bank bosses as mortgage rates soar
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Major lenders are to meet the chancellor as mortgage costs jump and choice is limited.

Major banks are to meet the chancellor on Thursday, with the impact of the recent financial market turmoil on the mortgage market set to be discussed.

This week the rate on a typical two-year fixed rate mortgage breached 6% for the first time in 14 years.Mortgage rates have been going up for months, but recorded a sharp increase in response to the fall-out from the mini-budget nearly two weeks ago.

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