How will next weeks autumn speech affect mortgages?

simon_or

fitzykev said:

Strummer22 said:

@fitzykev I could tell the second part of your post was a quote from somewhere so I googled it: https://www.wayhome.co.uk/blog/mortgage-offer-withdrawn-on-the-day-of-completion-what-to-do

The context is: "If your lender withdrew your mortgage offer due to the recent interest rate hikes, you may want to look for an alternative way to buy your home. The monthly payments outlined in your original mortgage offer will have increased significantly following the interest rate hikes."

This would only be an issue if you had applied for a tracker or variable rate mortgage and would not affect those with an offer for a fixed rate mortgage. Have you got a fixed rate offer? 

Remember, you replied to K_S, who is a mortgage advisor, with an unattributed quote that is nothing more than hearsay. I would trust K_S! Unless you have any specific examples relating to your exact situation, I don't think you need to worry. 

Strummer22 said:

@fitzykev I could tell the second part of your post was a quote from somewhere so I googled it: https://www.wayhome.co.uk/blog/mortgage-offer-withdrawn-on-the-day-of-completion-what-to-do

The context is: "If your lender withdrew your mortgage offer due to the recent interest rate hikes, you may want to look for an alternative way to buy your home. The monthly payments outlined in your original mortgage offer will have increased significantly following the interest rate hikes."

This would only be an issue if you had applied for a tracker or variable rate mortgage and would not affect those with an offer for a fixed rate mortgage. Have you got a fixed rate offer? 

Remember, you replied to K_S, who is a mortgage advisor, with an unattributed quote that is nothing more than hearsay. I would trust K_S! Unless you have any specific examples relating to your exact situation, I don't think you need to worry. 

My offer is for a 5 years fixed rate at 3.89%

Its a fixed rate, high street lender and you have a firm mortgage offer so you've got nothing to worry about.