the end of november. meanwhile, the bank of england said it would not hesitate to raise interest rates if necessary, and would make a decision on any action in november. with the economic fallout far from over, it s shaping up to be a difficult winter for british families and businesses. vincent mcaviney, bbc news. joining me now is sally mitchell, she is a mortgage advisor and broker from the mortgage mum. thanks forjoining us. firstly, what does it mean if these mortgages are being withdrawn from the market? well, it means that if you are looking for a new mortgage, a remortgage, the pool that you are fishing from has got considerably smaller and alongside that the fish that are in that pool are much more expensive now. that are in that pool are much more exnensive ow- expensive now. how much are you exectinu expensive now. how much are you expecting rates expensive now. how much are you expecting rates to expensive now. how much are you expecting rates to go expensive now. h
ben boulos outside the bank of england for us. sally mitchell is a mortgage advisor and broker from the mortgage mum. she s been telling me what it means that mortgages are being withdrawn from the market. if you are looking for a mortgage that pool of mortgages just got smaller and they are more expensive. how worried are the people that mortgage brokers are dealing with now? , ., , mortgage brokers are dealing with now? , . , ., now? clients are very worried. the media has now? clients are very worried. the media has obviously now? clients are very worried. the media has obviously hit now? clients are very worried. the media has obviously hit on - now? clients are very worried. the media has obviously hit on this - media has obviously hit on this story today and i ve already had phone calls while doing these interviews about what shall i do, what do i do? it is a worrying time and clients are notjust having to deal with their mortgage rates increasing, the whole cost of living
With last week’s base rate rise to 1.75%, industry experts suggest that as it stands mortgage rate rises are not having a wider impact on weekly and monthly income and expenditure as some other factors such as increasing fuel costs, food supplies and utility bills. Speaking on this week’s Lenders Live on LinkedIn
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