Former PM Liz Truss refuses to accept blame for the mortgage rate increases following her mini-Budget, citing global trends and resistance from the Bank of England.
Former Chancellor and co-creator of the disastrous mini-Budget Kwasi Kwarteng has announced his intention to quit as an MP.
In the South East, with an average outstanding mortgage of £144,000, families have seen an average increase in mortgage payments of £2,944.
Chancellor Kwasi Kwarteng has been sacked by Prime Minister Liz Truss after just 38 days in office.
After Riz Malik of R3 Mortgages called for Chancellor Kwasi Kwarteng to quit live on Sky News earlier today other brokers give their opinion but one warned it would be "urinating in the breeze" at this point.
Chancellor Kwasi Kwarteng needs to find £60bn to plug a hole in the public finances and shore up confidence in the economy, the Institute for Fiscal Studies (IFS) has warned.
Chancellor Kwasi Kwarteng is to lay out his fiscal plan on 31st October, some three weeks earlier than the initially announced date of 23rd November.
Following last week's meeting with senior executives of major mortgage lenders, the Chancellor, Kwasi Kwarteng, is understood to be considering extending the Mortgage Guarantee Scheme.
The Government must act now to defuse a "mortgage ticking time bomb", according to Lib Dem leader Ed Davey.
Labour leader Keir Starmer has once again blasted the Government's mini-Budget which has forced lenders to increase mortgage borrowing costs.
Chancellor Kwasi Kwarteng has pledged to work closely with the financial sector to provide the best value on mortgage rates.
Britain's biggest mortgage lenders are set to urge Chancellor Kwasi Kwarteng to commit to renewing the Mortgage Guarantee Scheme.